factsheet – july 2018...rebound in mid and smallcap performance...

The AssetFactsheet – July 2018

Index

Fund Manager Commentary

HSBC Large Cap Equity Fund

HSBC Multi Cap Equity Fund

HSBC Small Cap Equity Fund

HSBC Infrastructure Equity Fund

HSBC Tax Saver Equity Fund

HSBC Global Emerging Markets Fund

HSBC Brazil Fund

HSBC Managed Solutions India - Growth

HSBC Managed Solutions India - Moderate

HSBC Managed Solutions India - Conservative

Fund Managers - Equity

Fund Manager Wise Comparative Performance of Equity Schemes

HSBC Regular Savings Fund

HSBC DynamicAssetAllocation Fund

HSBCAsia Pacific (Ex Japan) Dividend Yield Fund

HSBC Debt Fund

HSBC Short Duration Fund

HSBC Cash Fund

HSBC Low Duration Fund

HSBC Flexi Debt Fund

Fund Managers - Debt

Comparative Performance of Debt Schemes

Section II - How to read Factsheet

HSBC Global Consumer Opportunities Fund

SIP Performance of Equity Schemes

HSBC Mutual Fund Products

Fund Manager Wise

01

06

05

07

08

09

10

11

12

13

14

15

16

17

18

21

26

31

32

33

34

35

36

37

38

40

19

-

Rebound in Mid and Smallcap performance

During July 2018, markets saw a recovery in the performance with both market indices and the broader market indices gaining on a month on month

basis (MoM). The market indices however continued to outperform the broader market counterparts, a trend that was visible all through 2018. The

mid and small cap indices saw a mild bounce back considering the sharp correction these indices have witnessed on a calendar year to date basis.

Market indices, S&P BSE Sensex and NSE Nifty were up 6.4% and 6.2% respectively while S&P BSE Midcap and S&P BSE Smallcap indices gained

4% and 3.7% respectively. ( ).

The macro headwinds which had underpinnings in the higher global crude prices, eased a bit as the oil prices cooled off by 6.5% MoM. Given this

backdrop, the currency market trends also stabilised with INR broadly remaining the same on a MoM basis. These factors helped the broader market

performance to pick up during the month.

Government announced the Minimum Support Price or MSP for Kharif crops and as stated in this year’s budget document this was fixed at atleast 1.5

times the cost of production. Accordingly, some of the Kharif crops saw material increase in MSPs and in certain cases, the increase in price

exceeded the floor of 1.5 times of the cost of production. Higher MSPs are inflationary in nature and is expected to add close to 40bps to Consumer

Price Inflation (CPI) at the base level. However, depending on the mechanisms adopted to ensure MSPs are passed on to farmers efficiently (E.g.:

quantum of direct procurement of crops by the government), the inflation expectations could vary. This has added to an expectation of a higher

interest rate environment over the next few quarters and the RBI has already announced the second consecutive repo rate increase of 25 bps during

the bi-monthly policy held on 01Aug 2018.

The April – June 2018 quarterly earnings season is currently underway and the trends so far are broadly on expected lines. The aggregate earnings

delivery has been impacted by higher provisions at corporate focused banks and in select companies. The earnings momentum is expected to pick

up through FY19.

The GST council reduced tax rates on 88 items largely in the consumer segments, majority of which saw the tax rate getting reduced from 28% to

18%. The council also eased compliance requirements such as simplified filing process for small businesses, deferred the implementation of the

reverse charge mechanism among others. This could put some pressure on the GST revenues (impact expected to be tune of Rs. 100 bn) but the

fiscal impact is not estimated to be that meaningful at this juncture.

The Foreign Institutional Investor (FII) segment turned net buyers after seeing net outflows for the past three months. The segment net bought Indian

equities worth about USD 208 mn during the month and for the 7 months during the calendar year, the net outflows from segment stands at about USD

414 mn (about USD 7.71 bn of net inflows in CY2017). The Domestic Institutional Investors (DII) segment continued to see net inflows (about USD

655 mn, as on 20 July) driven by net inflows from the domestic MFs. The MF segment net bought equities worth about USD 802 mn (till 20 July). On a

CYTD perspective, the MF segment has seen net inflows of about USD 11.9 bn, while at an overall DII level, the net inflows stood at about USD 10.1

bn, accounting for the net outflows from the domestic insurers (data available till 20 July).

*returns on Total Return or TR variants of indices on a MoM basis

Global trade conflict noises refused to die down as the US threatened to extend tariffs on all Chinese exports to the US. However, US President and

European Commission President agreed to work towards finding a solution in their ongoing trade dispute. The European Central Bank (ECB) kept

interest rates on hold during its July meeting which was on expected lines. The first estimate of the US second quarter GDP came in at 4.1% QoQ

annualised, while first quarter GDP growth was revised higher to 2.2% from 2% earlier. During the second quarter, the personal consumption

segment showed growth traction along with positive contribution from net exports. Global crude oil prices fell during the month on back of increase in

production from SaudiArabia, Russia and US, and also due to resumption of Libyan supply post-temporary shutdown as geo-political issues receded

there.

Month of July saw a rebound in performance in Mid & Small cap indices, while the large cap market indices continued to touch all time high levels.However, if we analyse the equity market performance on a calendar year till date basis, a dichotomy is clearly visible in the performance of marketindices to that of mid & small cap indices. Even after the rebound in July, BSE Midcap and Smallcap indices are down 9.6% and 13.4%, whereas themarket indices BSE Sensex and NSE CNX Nifty have climbed to record highs to register gains of 11.3% and 9% respectively during the past 7 months( ). However, it has been a concentrated performance on the market indices with a few stockscontributing to bulk of the gains generated on a year till date basis. As a result, the Nifty 50 Equal Weight index is down 0.6% on a year till date basis,underperforming the free float counterpart meaningfully.

returns on Total Return or TR variants of indices

External

Global Economic Scenario

Institutional Fund Flows

Equity Market Outlook

Market View


01

Source: Bloomberg; Bombay Stock Exchange (BSE)

Re

turn

s %

Sensex Nifty BSE200 BSE500 BSE MidCap BSE SmallCap

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

Indices Performance - July 2018

Infl

ati

on

Gro

wth

(%)

0.0

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

Ma

y-1

5

Nov-1

5

Apr-

16

Se

p-1

6

Feb

-17

Jul-

17

De

c-1

7

Jun-1

8

CPI Inflation (%)

RBIActions (Policy rate)

Consumer Price Index or CPI

RBI’s Monetary Policy Committee or MPC hiked policy rate by 25 bps, while keeping its stance neutral. In line with the market opinion, RBI has hikedrepo, reverse repo and MSF rates by 25 bps while keeping a stance as Neutral. The key driver of the rate hike seems to be driven by two key factors a)closing of output gap b) increase in domestic activity.

The cycle of re-rating in mid / small caps seen during 2017 and the subsequent correction in the space was as a result of valuations in the spacerunning ahead of actual earnings delivery / expectations coupled with headwinds from increase in commodity prices especially global crude oil andINR depreciation. With crude oil prices cooling off a bit along with a stable currency, we saw a rebound in the performance of Mid & Small cap indicesduring July. Valuations at an aggregate level and for individual stocks within the mid / small cap space have moderated from the peak levels, as thepremium of mid / small caps over large caps had reached unsustainable levels at the start of 2018. However, this phase of correction in mid / smallcaps is throwing up good opportunities as some quality names are now available at reasonable valuations.

From a macro backdrop point of view, some of the variables have worsened at the margin after seeing significant improvement post the 'tapertantrum' phase in 2013. The fiscal deficit may move marginally higher while inflation expectations have inched up. On the external front, the CurrentAccount Deficit has widened while exports growth momentum is yet to pick up sustainably. Higher global crude oil price is a headwind in thisconnection. Having said that, all of these macro variables are in a far better shape when compared to bouts of crises phases we have witnessed in thepast decade. The Central bank is also acting proactively and decisively to manage the inflation effectively as demonstrated by two consecutive ratehike decisions. On the global front, the rate hike process is expected to continue in the US and while this is broadly priced in as far markets areconcerned, however there could be some impact of external flows drying up for emerging markets. The US - China trade spat has been in athreatening mode for some time now, though the issue snowballing to a full blown trade war would not be in the best interests of both nations andhence is likely to be avoided. The US - N Korea historic summit has cooled down the heat on geo-political concerns which was lingering earlier.

We remain constructive on the India story from a medium to long term perspective. Looking ahead, the GST regime will lead to faster formalization ofthe economy, broaden the tax base, improve the fiscal situation and improve the ease of doing business. Insolvency and Bankruptcy Code or IBC isanother key reform that will lead to structural repair in the banking industry and this may go a long way in reviving the credit offtake in the economy,early signs of which we are already witnessing. Government has taken some steps to address the growth issue and the bank recapitalisation andinfrastructure push announced are to tackle growth challenges and that will help in hastening the overall economic growth revival process. GDPgrowth rebound after the twin disruptions of Demonetization and GST implementation provides the optimism and we are entering a high growthphase again.Also, the corporate earnings recovery cycle is already underway as the trends from the ongoing earnings season suggest. We are likelyto see meaningful acceleration in corporate earnings growth over the next 2 to 3 years driven by the favourable base as well as genuine uptick indomestic demand and consumption.

The factors to closely track in the near to medium term would be corporate earnings, RBI’s policy actions, election calendar culminating in the generalelections, global crude price dynamics, rising trends of protectionism in the developed economies and the interest rate actions in the US.

Indian government announced Minimum Support Price or MSP rates. The MSP rate was largely on expected lines as per the formula specified in the

budget. Overall MSP rates for paddy, which is the most widely sown kharif crop was increased by 13%, pulses by around 9%, while few of the other

crops saw higher increases. On a weighted average basis (considering weights in CPI index), the MSP increase was around 14% on an average. The

overall inflation impact is expected to be between 25 to 60 bps as per estimates of various economists but much will depend on procurement policy.

GST collections for the month of June 2018 (collected in July 2018) was Rs 964 bn with a run rate of about Rs 980 bn for the first three months

continuing to remain a tad lower than the Rs 1 trillion per month target. GST rates for certain items were lowered further in the month. Going

forward improved compliance on GST and e-way bill rollout is expected to bring the desired results.

Consumer Price Index or CPI Inflation for June ‘2018 came in better than expectation at 5.0% YoY from 4.87% YoY in May, driven by muted food

inflation. Food inflation has remained consistently softer than seasonal, with back-to-back normal monsoon. The marginal rise in headline inflation is

due to fuel and miscellaneous, in addition to an adverse base.

Policy notes that economic growth is strong and output gap has virtually closed. GDP growth for FY19 retained at 7.4% with 1H growth in therange of 7.5 - 7.6% and 2H 7.3 – 7.4% with risks evenly balanced. Five MPC members have voted for the hike with 1 member voting againstthe decision.

Two consecutive hikes with “neutral” stance may indicate that probability of further hikes in the near term is very low. Policy has been a reliefto fixed income markets as the rate hike was well priced in and no change in stance is viewed positively so far. Going forward the key risks toinflation emerge from a) volatility in crude prices b) geopolitical tensions c) spatial distribution of monsoon and procurement policy d) fiscalslippage at center/state and e) second round impact of state HRArevisions

MSP (Minimum Support Price)

GST

RBI's Monetary Policy, Economic Indicators

Inflation


02

Source: Bloomberg; Central Statistical Organization (CSO) India

4%

5%

6%

7%

8%

9%

10%

Au

g/1

0

Jan

/11

Jun

/11

Nov/1

1

Ap

r/12

Se

p/1

2

Feb/1

3

Jul/13

Dec/1

3

Ma

y/1

4

Oct/14

Mar/

15

Au

g/1

5

Jan

/16

Jun

/16

Nov/1

6

Ap

r/17

Se

p/1

7

Feb/1

8

Jul/18

Rate

%

Repo Rate (%)

Wholesale Price Index or WPI

Currency

For the first quarter of FY19, government stood at 68.7% of its fiscal deficit target as compared to 80.8% last year. While it is better than last year driven

by higher revenue receipts, some portion of this is driven by March GST (collected inApril).

Liquidity hovered between being neutral to deficit. Towards the end of the month, some government spending has brought the system back to neutral.

RBI Open Market Operations or OMO helped liquidity easing in the middle of the month. Going forward, RBI has indicated that it would balance

liquidity actively with choice of instruments depending on the whether the action is to tackle durable or transient liquidity.

Market is likely to trade around 7.70% in the near term. In the near term, with immediate policy action out of the way, market will look for cues from

currency and oil.

Fixed income markets have been largely driven by the direction of oil and currency. Markets were helped by MSP announcement being on expected

lines, while crude inching downwards a bit also helped market to stabilise.Also OMO announcement led to some positive sentiment. Towards the end

of the month, market was largely on the sidelines awaiting clues from the policy. Policy being on expected lines with “neutral” stance should provide

some balance going forward.

Wholesale Price Index or WPI inflation came in at 5.8%, higher than 4.23% in momentum, driven by an unfavorable base effect and increase in fuel

prices. A sequential momentum in core and food prices also affected WPI inflation. Primary food inflation at WPI level however remained subdued at

1.14% while core WPI is at 4.8% (up from 4.4% y-o-y) even as fuel inflation remained higher at 16.2% y-o-y.

Index of Industrial Production or IIP

India’s industrial production for May ‘2018 was modest at 3.2% YoY compared to a 4.8% in Apr-18 marking the slowest pace of growth in last 7

months.

Rupee was range bound for most part of the month touching highs of 69.1 and lows of 68.3 largely driven by oil and geo political factors and dollar

strengthening. In terms of flows while most of the month was negative, towards the end of the month it turned positive with marginal net positive on the

debt side and INR 11 bn net flows on the equity side.

Fiscal Deficit

Liquidity

Markets

Going Forward

03


Source: Bloomberg, for all data except where mentioned otherwise

Source: Bloomberg

Repo Rate Movement

IIP YoY Growth in % (New Series; base 2011- 12)

Gro

wth

%

-6%

-1%

4%

9%

14%

Ju

n/1

3

Nov/1

3

Apr/

14

Se

p/1

4

Fe

b/1

5

Ju

l/15

Dec/1

5

Ma

y/1

6

Se

p/1

6

Fe

b/1

7

Ju

l/17

Dec/1

7

Ma

y/1

8

Index of Industrial Production (IIP)* new series data

“This document provides a high level overview of the recent economic environment. It is for marketing purposes and does not constituteinvestment research, investment advice or a recommendation to any reader of this content to buy or sell investments. It has not beenprepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to anyprohibition on dealing ahead of its dissemination.”

04


Consumer Discretionary

Consumer Staples

Energy

Financials

Healthcare

Industrials

Information Technology

Materials

Telecommunication

Utilities

Sectors HSBCLarge Cap

Equity Fund #

HSBCMulti Cap

Equity Fund #

Overweight Underweight Neutral

#The benchmark for HSBC Large Cap Equity Fund and HSBC Multi Cap Equity Fund have changed w.e.f. 11th November, 2016 as a more suitablebenchmark was identified which better matched the portfolio strategy.There has been no change to investment management of the scheme.

Review: HSBC Large Cap Equity Fund

Positive Contributors

Negative ContributorsEnergy & Consumer Staples - being underweight hurt performanceMaterials - being overweight & certain stock (s) selection hurt performanceFinancials & Utilities – certain stock (s) selection hurt performanceIndustrials - being overweight hurt performance

Consumer Discretionary - certain stock (s) selection helped performanceHealthcare - being underweight helped performance

Review: HSBC Multi Cap Equity Fund


Negative Contributors

Financials – being overweight & certain stock (s) selection helped performance

Healthcare & Utilities – being underweight helped performance

Industrials & Consumer Staples - certain stock (s) selection helped performance

Materials & Telecommunication - being overweight & certain stock (s) selection hurt performance

Energy - being underweight hurt performance

Review: HSBC Small Cap Equity Fund


Negative ContributorsMaterials & Utilities - certain stock (s) selection hurt performanceHealthcare & Information Technology - being underweight & certain stock (s) selection hurt performance

Financials & Consumer Staples - certain stock (s) selection helped performanceEnergy - being overweight & certain stock (s) selection helped performanceConsumer Discretionary & Telecommunication - being underweight helped performance

Review: HSBC DynamicAssetAllocation Fund

The cash levels and sector allocation in the fund are likely to change depending on the market conditions and technical factors.

Review: HSBC Regular Savings Fund

Our current equity exposure is 25.10%. Currently it is more biased towards large caps than mid or small caps.

HSBCSmall Cap

Equity Fund

Due to non-availability of the data for the S&P BSE 250 Small Cap Index attribution analysis for HSBC Small Cap Equity Fund is not incorporated.

Pursuant to the circular issued by Securities and Exchange Board of India(SEBI) on ’inorder to bring uniformity in the practice and standardize the scheme categories across the Mutual Funds, placed below is the HSBC Mutual Fund’s productspectrum, effective from

‘Categorization and Rationalization of Mutual Fund Schemes

14th March,2018.

Equity Schemes

HSBC Mutual Fund Products

Scheme Benchmark

HSBC Cash Fund


HSBC Managed Solutions India -

Growth

Fund of Funds (Overseas/Domestic) Composite Index constituting 80% of

S&P BSE 200 Index and 20% of CRISIL

Composite Bond Index.


(Previous Name - HSBC Equity Fund)


(Previous Name - HSBC Midcap

Equity Fund)


(Previous Name - HSBC India

Opportunities Fund)



Large Cap Fund – An open ended equity

scheme predominantly investing in largecap

stocks.

Small Cap Fund - An open ended equity scheme

predominantly investing in small cap stocks

Multi Cap Fund - An open ended equity

scheme investing across large cap, mid cap,

small cap stocks

An open ended equity linked saving scheme

with a statutory lock-in of 3 years and tax benefit

An open ended equity scheme following

Infrastructure theme.

Large Cap Fund

(Previous Category - Large cap equity scheme)

Small Cap Fund

(Previous Category - Mid-cap Equity Scheme)

Multi cap Fund

(Previous Category - Flexi-Cap Equity Scheme)

Equity Linked Savings Scheme

Thematic Fund

(Previous Category - Equity Scheme)

Nifty 50

S&P BSE 250 Small Cap Index

(Previous Benchmark - S&P BSE Midcap Index)

S&P BSE 200

S&P BSE 200

S&P BSE India Infrastructure Index

HSBC Brazil Fund


(Previous Name - HSBC Emerging

Markets Fund)

HSBC Asia Pacific (Ex Japan)

Dividend Yield Fund

HSBC Global Consumer

Opportunities Fund

An open ended fund of fund scheme investing in

HSBC Global Investment Funds - Global

Emerging Markets Equity Fund

An Open Ended Fund of Funds Scheme investing

in HSBC Global Investments Fund - (HGIF)

Asia Pacific Ex Japan Equity High Dividend Fund

An Open-Ended Fund of Funds Scheme

investing in HSBC Global InvestmentsFund

- (HGIF) Brazil Equity Fund

An Open Ended Fund of Funds Schemeinvesting

HSBC Global Investment Funds (HGIF) China

Consumer Opportunities Fund

Fund of Funds (Overseas)

(Previous Category - Fund of Funds)







MSCI Emerging Markets Index

MSCI AC Asia Pacific ex Japan

MSCI Brazil 10/40 Index

MSCI AC World Index

CategoryType


Conservative


Moderate

An Open Ended Fund of Funds Scheme

investing in a basket of equity, debt, Gold and

other Exchange Traded Funds







Fund of Funds (Overseas/Domestic)

Fund of Funds (Overseas/Domestic) Composite Index constituting of 90% of

CRISIL Composite Bond Index and 10%

of S&P BSE 200 Index.

CRISIL Hybrid 35+65 - Aggressive Index

(renamed from existing CRISIL Balanced

Fund Aggressive Index)

^£

(Previous Name -

)


HSBC Monthly

Income Plan#

An open ended Hybrid Scheme investing

predominantly in debt instruments.

Conservative Hybrid Fund

(Previous category - Income Scheme)CRISIL Hybrid 85+15 - Conservative Index

renamed from existing MIP Blended Fund

Index)

^£#

(

HSBC Debt Fund

(Previous Name - HSBC Income Fund

- Investment Plan)


(Previous Name - HSBC Income Fund

- Short Term Plan)


(Previous Name - HSBC Ultra Short

Term Bond Fund)

An open ended Dynamic Debt Scheme

investing across duration

An open ended Medium to Long Term DebtScheme investing in instruments such that the

Macaulay duration of the portfolio is between4 years to 7 years.

^^

An open ended Short Term Debt Scheme

investing in instruments such that the Macaulay

duration of the portfolio is between 1 year to

3 years.

^^

An open ended Low Duration Debt Scheme

investing in instruments such that the Macaulay

duration of the portfolio is between 6 months to

12 months.

^^

An Open Ended Liquid Scheme

Medium to Long Duration Fund

(Previous category - Income Scheme)

Short Duration Fund

(Previous category - Short Term Plan)

Liquid Fund

Low Duration Fund

(Previous category - Debt Fund)

Dynamic Bond Fund

(Previous category - An open - ended Debt

Scheme)

CRISIL Composite Bond Fund Index

CRISIL Short Term Bond Fund Index

CRISIL Liquid Fund Index

CRISIL Low Duration Debt Index (Previously

named as CRISIL Ultra Short Term Debt Index)

(Previous benchmark CRISIL Liquid Fund Index

- 90%, CRISIL Short Term Bond Fund Index

^£

CRISIL Composite Bond Fund Index

^Debt Allocation of 85% and 35% in respective indices represented by CRISIL Composite Bond Index.£ The equity component of the Index has been changed from Nifty 50 to S&P BSE - 200 and will be represented by Total Return variant of S&P BSE - 200.# Monthly income is not assured and is subject to the availability of distributable surplus.^^The Macaulay duration is the weighted average term to maturity of the cash flows from a bond. The weight of each cash flow is determined by dividing the present value of the

cash flow by the price.

Criteria for Large, Mid & Small companies -SEBI has demarcated the definitions of large cap, mid cap and small cap companies as given below.Large Cap: 1st -100th company in terms of full market capitalization, Mid Cap: 101st -250th company in terms of full market capitalization, Small Cap: 251st company onwards in terms of fullmarket capitalization of large/mid/small cap companies

A list of stocks as per above criteria will be uploaded on AMFI website and updated every six months by AMFI.Note -

Scheme Benchmark

05

HSBC Dynamic Asset Allocation Fund

(Previous Name - HSBC Dynamic Fund)

An open ended Dynamic Asset Allocation Fund. Dynamic Asset Allocation

(Previous Category - Dynamic Equity Scheme)

S&P BSE 200

Hybrid Scheme

Other Schemes

Debt Schemes

HSBC Large Cap Equity FundLarge Cap Fund - An open ended equity scheme predominantly investing in large cap stocks.

Investment Objective: To generate long-term capital growth from an actively managed portfolio of equity and equity related securities of predominantly large

cap companies.However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

06

FUND DETAILS

Month End Total Expenses ratios (Annualized)

Portfolio Turnover

Regular 2.21%Direct Plan 1.51%Excludes GST on Investment Management fees of 0.23% ofTotal NetAssets.

¤¤0.81

Asset Allocation

Auto 9.51%

AutoAncillaries 2.68%

Banks 32.25%

Cement 1.17%

Construction Project 4.91%

Consumer Non Durables 5.57%

Ferrous Metals 1.97%

Finance 8.14%

Hotels, ResortsAnd Other RecreationalActivities 1.09%

Media & Entertainment 1.06%

Non - Ferrous Metals 2.74%

Petroleum Products 6.76%

Pharmaceuticals 1.62%

Power 2.33%

Software 11.65%

Telecom - Services 1.87%

Transportation 1.10%

Other Equity Investments 1.83%

Reverse Repos/CBLOs 1.13%

Net CurrentAssets 0.62%

Total NetAssets 100.00%

¤

¤¤Portfolio Turnover Ratio is computed for the last 12 months.

Statistical Ratios disclosed are as per monthly returns(Annualized) for the last 3 years.

The benchmark was changed w.e.f. 11th November, 2016 as amore suitable benchmark was identified which better matchedthe portfolio strategy. There has been no change to investmentmanagement of the scheme.

Effective from March 14, 2018 for prospective investments.

**Risk free rate: 6.25% (FIMMDA-NSE Mibor) as on July 31,2018)

$

@

Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: 10 per unit.`

Auto

Maruti Suzuki India 3,332.19 4.57%

Mahindra & Mahindra 2,807.85 3.85%

Tata Motors 792.30 1.09%

MRF 993.63 1.36%

Motherson Sumi Systems 966.30 1.32%

HDFC Bank 7,083.38 9.71%

ICICI Bank 4,868.00 6.67%

Yes Bank 3,679.50 5.04%

Axis Bank 3,302.40 4.52%

Kotak Mahindra Bank 2,613.70 3.58%

IndusInd Bank 1,995.15 2.73%

Shree Cement 850.91 1.17%

Larsen & Toubro 3,581.33 4.91%

ITC 2,977.00 4.08%

Asian Paints 1,088.55 1.49%

Jindal Steel & Power 1,438.15 1.97%

HDFC 3,989.70 5.47%

Indiabulls Housing Finance 1,945.58 2.67%

Indian Hotels Co. 798.00 1.09%

Sun TV Network 772.30 1.06%

Vedanta 1,999.80 2.74%

Reliance Industries 4,151.00 5.69%

Bharat Petroleum Corporation 779.50 1.07%

Aurobindo Pharma 1,183.10 1.62%

NTPC 1,703.35 2.33%

Infosys 5,119.13 7.01%

HCL Technologies 2,412.75 3.31%

Tata Consultancy Services 970.10 1.33%

Bharti Airtel 1,367.10 1.87%

Adani Ports & Special Economic Zone 799.50 1.10%

Auto Ancillaries

Banks

Cement

Construction Project

Consumer Non Durables

Ferrous Metals

Finance

Hotels, Resorts And Other Recreational Activities

Media & Entertainment

Non - Ferrous Metals

Petroleum Products

Pharmaceuticals

Power

Software

Telecom - Services

Transportation

Other Equity Investments 1,338.46 1.83%

Cash Equivalents

CBLO 822.63 1.13%

Net Current Assets 459.37 0.62%

Total Net Assets as on 31-Jul-2018 72,981.69 100.00%

FUND PORTFOLIO

IssuerMarket Value

( in Lacs)`

% to NetAssets

Dividend DeclarationRecord Date / periodof dividend declared

Dividend ( per unit)Non-Institutional

` Dividend ( per unit)Institutional

` NAV ( ) per unit(cum dividend)

`

HSBC Large Cap Equity Fund - Dividend

28-Dec-17 3.50000 3.50000 33.2519HSBC Large Cap Equity Fund - Dividend - Direct Plan

28-Dec-17 3.50000 3.50000 34.7739

10-Nov-15 3.70000 3.70000 29.404602-Nov-16 3.00000 3.00000 30.0022

10-Nov-15 3.70000 3.70000 30.080602-Nov-16 3.00000 3.00000 31.0071

Date of Allotment

Benchmark

NAV (Growth)(as on 31.07.18)

Monthly Average AUM

(In Lakhs)

Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

$

@

per unit

Statistical Ratios¤

10-Dec-02Nifty 50

Neelotpal SahaiAvailable

,000

1,000 p.m.(SIP)

14.84%

`

`

`

5

212.3545

1.0162

0.3727

70,465.05

(Lumpsum)

Investors understand that their principalwill be at Moderately High risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:

• To create wealth over longterm

• Investment in predominantlylarge cap equity and equityrelated securities


* Investors should consult their financial advisers if in doubt aboutwhether the product is suitable for them.

In respect of each purchase /switch-in of Units, an ExitLoad of 1% is payable if Units are redeemed / switched-out within 1 year from the date of allotment.

No Exit Load will be charged if Units are redeemed/switched - out after 1 year from the date of allotment.


07

FUND DETAILS


Portfolio Turnover

Regular 2.25%Direct Plan 1.55%Excludes GST on Investment Management fees of 0.18% of TotalNetAssets.

¤¤0.46

Asset Allocation

Auto 9.43%AutoAncillaries 1.14%Banks 24.57%Cement 1.66%Chemicals 1.06%Construction 2.83%Construction Project 4.21%Consumer Non Durables 3.27%Ferrous Metals 3.96%Finance 13.19%Hotels,Resorts and Other RecreationalActivities 1.67%Industrial Capital Goods 1.17%Industrial Products 1.61%Non - Ferrous Metals 2.79%Petroleum Products 3.72%Pharmaceuticals 1.39%Software 7.09%Textile Products 1.16%Other Equity Investments 13.32%Reverse Repos/CBLOs 0.44%Net CurrentAssets 0.32%Total NetAssets 100.00%

¤

¤¤


6.25 ,2018

Portfolio Turnover Ratio is computed for the last 12 months.

**Risk free rate: % (FIMMDA-NSE Mibor) as on July 31)

$The benchmark was changed w.e.f. 11th November, 2016 as a

more suitable benchmark was identified which better matchedthe portfolio strategy. There has been no change to investmentmanagement of the scheme.@Effective from March 14, 2018 for prospective investments.


FUND PORTFOLIO

Auto

Mahindra & Mahindra 1,871.90 2.94%

Maruti Suzuki India 1,428.08 2.24%

Eicher Motors 1,389.93 2.18%

Tata Motors 1,320.50 2.07%

Balkrishna Industries 724.71 1.14%

HDFC Bank 6,102.60 9.58%

ICICI Bank 3,803.13 5.97%

Yes Bank 3,679.50 5.78%

Axis Bank 2,064.00 3.24%

Dalmia Bharat 1,058.24 1.66%

Vinati Organics 675.92 1.06%

Gayatri Projects 1,120.08 1.76%

Somany Ceramics 682.94 1.07%

Larsen & Toubro 1,758.11 2.76%

NCC 925.50 1.45%

ITC 2,083.90 3.27%

Tata Steel 1,497.71 2.35%

Jindal Steel & Power 1,027.25 1.61%

Bajaj Finance 4,046.85 6.35%

Bharat Financial Inclusion 3,643.65 5.72%

Cholamandalam Investment & Fin Co. 715.33 1.12%

Indian Hotels Co. 1,064.00 1.67%

Sanghvi Movers 745.20 1.17%

Supreme Industries 1,023.36 1.61%

Vedanta 1,777.60 2.79%

Reliance Industries 2,372.00 3.72%

Aurobindo Pharma 887.33 1.39%

Infosys 3,071.48 4.82%

HCL Technologies 1,447.65 2.27%

Arvind 736.23 1.16%

Auto Ancillaries

Banks

Cement

Chemicals

Construction



Ferrous Metals

Finance


Industrial Capital Goods

Industrial Products


Petroleum Products

Pharmaceuticals

Software

Textile Products


Cash Equivalents

CBLO 279.99 0.44%



Issuer Market Value( in Lacs)`

% to NetAssets





`

HSBC Multi Cap Equity Fund - Dividend

HSBC - Dividend Direct Plan27-Feb-18 2.25000 2.25000 28.2124

27-Feb-18 2.25000 2.25000 31.1273

10-Nov-15 1.50000 1.50000 21.862424-Mar-17 1.50000 1.50000 25.8408

10-Nov-15 1.50000 1.50000 23.473824-Mar-17 1.50000 1.50000 28.1677

Multi Cap Equity Fund

Multi Cap Fund - An open ended equity scheme Investing across large cap, mid cap, small cap stocks.

Investment Objective: Seeks long term capital growth through investments across all market capitalisations, including small, mid and large cap stocks. Itaims to be predominantly invested in equity & equity related securities. However it could move a significant portion of its assets towards fixed income securitiesif the fund manager becomes negative on equity markets. However, there can be no assurance or guarantee that the investment objective of the schemewould be achieved.

Date of Allotment

BenchmarkNAV (Growth)(as on )

Fund ManagerSIPMinimumApplication Amount

Exit Load

Standard DeviationBeta (Slope)Sharpe Ratio**

$

@

per unit

Monthly Average AUM(In Lakhs)

31.07.18

¤Statistical Ratios

24-Feb-04

S&P BSE 200

61,997.63

Neelotpal Sahai

Available

5,000

1,000 p.m.(SIP)

16.24%

`

`

`

90.0461

1.0944

0.3152

(Lumpsum)


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Invests in equity and equityrelated securities acrossmarket capitalisations






This product is suitable for investors who are seeking*:

�

�

�

Overnight liquidity over short term

Investment in Money Market Instruments

Low riskLOW RISK

(BLUE)

Note: Risk is represented as -

*Investors should consult their financial advisers if in doubt whether the product issuitable for them

08

FUND DETAILS


Portfolio Turnover

Regular 2.26%Direct Plan 1.56%Excludes GST on Investment Management fees of 0.18% ofTotal NetAssets.

¤¤0.52

Asset Allocation

¤

¤¤


6.25 ,2018


The said Fund is managed by Neelotpal Sahai effective 11 May2018


£

@Effective from March 14, 2018 for prospective investments.


FUND PORTFOLIO

Auto

VST Tillers Tractors 1,741.94 2.98%

Apollo Tyres 1,464.00 2.51%

City Union Bank 1,203.30 2.06%DCB Bank 1,146.95 1.97%

Deccan Cements 1,967.13 3.37%

Balaji Amines 2,667.28 4.57%Vinati Organics 2,406.66 4.12%GOCL Corporation 1,192.16 2.04%Navin Fluorine International 670.20 1.15%Galaxy Surfactants 596.35 1.02%

KNR Constructions 891.47 1.53%Ahluwalia Contracts (India) 742.28 1.27%Somany Ceramics 682.94 1.17%

NCC 925.50 1.59%Sadbhav Engineering 890.50 1.53%Kridhan Infra 636.40 1.09%

Orient Electric 1,449.50 2.48%

Kaveri Seed Company 1,985.59 3.40%Apex Frozen Foods 1,265.53 2.17%CCL Products (India) 1,245.50 2.13%

Srikalahasthi Pipes 1,374.12 2.35%Jindal Steel & Power 1,027.25 1.76%APL Apollo Tubes 810.03 1.39%

Cholamandalam Investment & Fin Co. 1,430.65 2.45%Motilal Oswal Financial Services 1,379.63 2.36%Muthoot Finance 1,011.38 1.73%Manappuram Finance 1,006.57 1.72%JM Financial 885.75 1.52%

Aegis Logistics 1,187.50 2.03%

EIH 1,138.39 1.95%

Sanghvi Movers 1,225.77 2.10%Macpower CNC Machines 634.06 1.09%

Graphite India 1,774.33 3.04%Ramkrishna Forgings 976.20 1.67%Nilkamal 695.72 1.19%KEI Industries 671.25 1.15%CMI 638.25 1.09%Jain Irrigation Systems 612.00 1.05%

Jagran Prakashan 1,162.50 1.99%

South West Pinnacle Exploration 632.39 1.08%

Hindustan Petroleum Corporation 854.40 1.46%

Kalpataru Power Transmission 842.85 1.44%

Sonata Software 1,796.93 3.08%

Auto Ancillaries

Banks

Cement

Chemicals

Construction


Consumer Durables


Ferrous Metals

Finance

Gas



Industrial Products

Media & Entertainment

Oil

Petroleum Products

Power

Software


Cash Equivalents

CBLO 3,732.31 6.39%



IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Small Cap Equity Fund - Dividend

30-May-18 1.77 1.77 25.4966HSBC Small Cap Equity Fund - Dividend - Direct Plan02-Nov-16 1.75 1.75 25.3345

10-Nov-15 2.50 2.50 20.183802-Nov-16 1.75 1.75 21.5706

30-May-18 1.77 1.77 30.7095

Small Cap Fund - An open ended equity scheme predominantly investing in small cap stocks.

Investment Objective: To generate long term capital growth from an actively managed portfolio of equity and equity related securities of predominantly small

cap companies. However, it could move a portion of its assets towards fixed income securities if the fund manager becomes negative on the Indian equity

markets. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Date of Allotment

Benchmark

NAV (Growth)(as on )

Fund Manager

SIP

Minimum

Application Amount

Exit Load


per unit


@

31.07.18

£


19-May-05

S&P BSE 250 Index

57,439.52

Available

5,000

1,000 p.m.(SIP)

21.42%

`

`

`

Small Cap

Neelotpal Sahai

(Lumpsum)

53.9268

0.9706

0.2096


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• To create wealth over long

term• Investment in predominantly

small cap equity and equityrelated securities



Auto 2.98%AutoAncillaries 2.51%Banks 4.03%Cement 3.37%Chemicals 12.90%Construction 3.97%Construction Project 4.21%Consumer Durables 2.48%Consumer Non Durables 7.70%Ferrous Metals 5.50%Finance 9.78%Gas 2.03%Hotels, ResortsAnd Other RecreationalActivities 1.95%Industrial Capital Goods 3.19%Industrial Products 9.19%Media & Entertainment 1.99%Oil 1.08%Petroleum Products 1.46%Power 1.44%Software 3.08%Other Equity Investments 8.48%Reverse Repos/CBLOs 6.39%Net CurrentAssets 0.29%Total NetAssets 100.00%





�

�

�



Low riskLOW RISK

(BLUE)



09

FUND DETAILS

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard DeviationBetaSharpe Ratio**

$

@

per unit


(Slope)

31.07.18

£


23-Feb-06

S&P BSE India Infrastructure Index

14,378.22

Gautam Bhupal

Available

5,000

1,000 p.m.(SIP)

21.97%

`

`

`

20.3391

0.9561

-0.1465

(Lumpsum)


Portfolio Turnover


¤¤0.46

Asset Allocation

Cement 5.13%

Chemicals 3.92%

Construction 9.72%


Ferrous Metals 11.07%

Finance 1.91%

Gas 1.76%

Industrial Capital Goods 10.62%

Industrial Products 13.60%

Minerals/Mining 3.86%



Power 4.78%


Other Equity Investments 3.04%




¤

¤¤


6.25 ,2018


The said Fund is managed by Gautam Bhupal effective 11 May2018


£

$The benchmark was changed w.e.f. 11th November, 2016 as a

more suitable benchmark was identified which better matchedthe portfolio strategy. There has been no change to investmentmanagement of the scheme.@

Effective from March 14, 2018 for prospective investments.


FUND PORTFOLIO

Cement

Deccan Cements 749.55 5.13%

GOCL Corporation 571.95 3.92%

KNR Constructions 460.38 3.15%

Ahluwalia Contracts (India) 401.68 2.75%

Indiabulls Real Estate 356.26 2.44%

NBCC India 201.36 1.38%

Larsen & Toubro 813.94 5.57%

Sadbhav Engineering 419.50 2.87%

Kridhan Infra 418.21 2.86%

NCC 351.69 2.41%

HG Infra Engineering 187.48 1.28%

Srikalahasthi Pipes 720.76 4.93%

Jindal Steel & Power 390.36 2.67%

Jindal Saw 287.49 1.97%

APL Apollo Tubes 218.71 1.50%

Rural Electrification Corporation 279.51 1.91%

Gujarat State Petronet 257.40 1.76%

Sanghvi Movers 770.65 5.28%

Voltamp Transformers 407.64 2.79%

Macpower CNC Machines 371.92 2.55%

KEI Industries 570.20 3.90%

Graphite India 567.78 3.89%

CMI 540.11 3.70%

Schaeffler India 308.85 2.11%

Gujarat Mineral Development Corporation 563.66 3.86%

Vedanta 155.54 1.06%

Indian Oil Corporation 606.12 4.15%

Hindustan Petroleum Corporation 513.35 3.51%

NTPC 379.38 2.60%

PTC India 319.13 2.18%


AVG Logistics 149.35 1.02%

Chemicals

Construction


Ferrous Metals

Finance

Gas


Industrial Products

Minerals/Mining


Petroleum Products

Power

Transportation

Other Equity Investments 443.71 3.04%

Cash Equivalents

CBLO 88.67 0.61%



IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Infrastructure Equity Fund Dividend11-May-07 1.00 1.00 12.239026-May-08 1.00 1.00 13.7160

An open ended equity scheme following Infrastructure theme

Investment Objective: Seeks to generate long term capital growth from an actively managed portfolio of equity and equity related securities by investing

primarily in sectors, areas and themes that play an important role in, and/or benefit from India's progress, reform process and economic development.

However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Investors understand that their principalwill be at High risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Invests in equity and equityrelated securities, primarily inthemes that play an importantrole in India's economicdevelopment






10

FUND DETAILS

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


31.07.18


05-Jan-07

S&P BSE 200

Aditya Khemani

Available

500

(Lumpsum & SIP)

Nil

15.88%

`

`

37.5392

1.0523

0.3121

16,441.62


Portfolio Turnover

Regular 2.39%

Direct Plan 1.69%

Excludes GST on Investment Management fees of 0.27% of TotalNetAssets.

¤¤0.49

Asset Allocation

Auto 8.95%AutoAncillaries 3.04%Banks 29.79%Cement 5.76%Chemicals 1.37%Construction 2.38%Construction Project 2.91%Consumer Durables 2.64%Consumer Non Durables 7.38%Finance 4.27%Gas 1.48%Hotels,Resorts and Other RecreationalActivities 2.15%Industrial Products 4.38%Non - Ferrous Metals 3.86%Petroleum Products 2.05%Pharmaceuticals 2.52%Software 4.50%Telecom - Services 1.86%Textile Products 1.17%Textiles - Cotton 1.21%Transportation 2.88%Other Equity Investments 1.03%Reverse Repos/CBLOs 2.27%Net CurrentAssets 0.15%Total NetAssets 100.00%

¤

¤¤


6.25 ,2018




FUND PORTFOLIO

Auto

Maruti Suzuki India 826.67 4.85%

Mahindra & Mahindra 421.18 2.47%

Tata Motors 277.98 1.63%

MRF 266.29 1.56%

Exide Industries 251.78 1.48%

ICICI Bank 1,638.23 9.62%

HDFC Bank 1,503.86 8.83%

IndusInd Bank 1,057.43 6.21%

Federal Bank 526.99 3.09%

Axis Bank 346.75 2.04%

NCL Industries 524.95 3.08%

OCL India 455.61 2.68%

Galaxy Surfactants 232.58 1.37%



Crompton Greaves Consumer Electrical 449.74 2.64%

ITC 568.30 3.34%

Glaxosmithkline Consumer Healthcare 415.05 2.44%

Heritage Foods 273.20 1.60%

Cholamandalam Investment & Fin Co. 457.81 2.69%

JM Financial 269.08 1.58%

Petronet LNG 252.07 1.48%


Nilkamal 422.18 2.48%

Finolex Cables 323.45 1.90%

Vedanta 657.71 3.86%

Reliance Industries 349.87 2.05%

Sun Pharmaceutical Industries 254.12 1.49%

Torrent Pharmaceuticals 175.79 1.03%

Infosys 766.11 4.50%

Bharti Airtel 316.39 1.86%

Indian Terrain Fashions 198.85 1.17%

Indo Count Industries 205.51 1.21%


Interglobe Aviation 218.48 1.28%

Auto Ancillaries

Banks

Cement

Chemicals

Construction


Consumer Durables


Finance

Gas


Industrial Products


Petroleum Products

Pharmaceuticals

Software

Telecom - Services

Textile Products

Textiles - Cotton

Transportation

Other Equity Investments 174.64 1.03%

Cash Equivalents

CBLO 386.36 2.27%



IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Tax Saver Equity Fund Dividend

HSBC Tax Saver Equity Fund Dividend Direct30-Jan-18 2.50000 2.50000 26.4229

30-Jan-18 2.50000 2.50000 27.6259

23-Mar-16 1.50000 1.50000 19.467524-Mar-17 1.50000 1.50000 23.1073

23-Mar-16 1.50000 1.50000 19.995024-Mar-17 1.50000 1.50000 23.9550

An Open Ended Equity Linked Savings Scheme with a statutory lock - in of 3 years and tax benefit.

Investment Objective:Aims to provide long term capital appreciation by investing in a diversified portfolio of equity & equity related instruments of companies

across various sectors and industries, with no capitalisation bias. The Fund may also invest in fixed income securities. However, there can be no assurance or

guarantee that the investment objective of the scheme would be achieved.


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• To create wealth over long

term• Invests in equity and equity

related securities with nomarket capitilastion bias




11

FUND DETAILS

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load


per unit


@

31.07.18


24-Sep-07

S&P BSE 200

Neelotpal Sahai

(for Equity portion)

Sanjay Shah

(for Fixed Income portion)

Available

5,000

1,000 p.m.(SIP)

`

`

`

12.42%

18.7980

0.8474

0.3298

4,420.28

(Lumpsum)


Portfolio Turnover


¤¤0.49

Asset Allocation

Auto 8.73%

Banks 31.03%

Cement 2.62%


Consumer Non Durables 9.12%

Finance 3.43%

Hotels,Resorts and Other RecreationalActivities 2.05%



Pharmaceuticals 4.55%

Power 2.90%

Software 10.75%

Telecom - Services 1.38%



Net CurrentAssets -0.54%


¤

¤¤


6.25 ,2018




FUND PORTFOLIO

IssuerMarket Value

( in Lacs)`

% to NetAssets

An open ended Dynamic Asset Allocation Fund.

Investment Objective: To provide long term capital appreciation by allocating funds in equity and equity related instruments. It also has the

flexibility to move, entirely if required, into debt instruments in times that the view on equity markets seems negative. However, there can be no

assurance or guarantee that the investment objective of the scheme would be achieved.

Auto



HDFC Bank 435.90 9.60%

ICICI Bank 258.61 5.70%

Kotak Mahindra Bank 248.30 5.47%

IndusInd Bank 199.52 4.39%

Yes Bank 183.98 4.05%

Axis Bank 82.56 1.82%

Shree Cement 119.13 2.62%


ITC 297.70 6.56%

Asian Paints 116.11 2.56%

Indiabulls Housing Finance 155.65 3.43%


Vedanta 133.32 2.94%

Reliance Industries 415.10 9.14%

Aurobindo Pharma 103.52 2.28%

Lupin 103.05 2.27%

NTPC 131.62 2.90%

Infosys 313.97 6.92%

HCL Technologies 173.72 3.83%



Banks

Cement



Finance



Petroleum Products

Pharmaceuticals

Power

Software

Telecom - Services

Transportation

Cash Equivalents

CBLO 243.90 5.37%

Net Current Assets -24.15 -0.54%



Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Invests in equity and equityrelated securities and in debtinstruments when view onequity markets is negative







�

�

�



Low riskLOW RISK

(BLUE)



12

FUND DETAILS


Regular 2.54%

Direct Plan 1.84%

(inclusive of underlying scheme's expenses)Excludes GST on Investment Management fees of 0.12% of TotalNetAssets.

Asset Allocation

Overseas Mutual Fund 97.19%




¤Statistical Ratios disclosed are as per monthly returns

(Annualized) for the last 3 years.

6.25 ,2018**Risk free rate: % (FIMMDA-NSE Mibor) as on July 31

)



FUND PORTFOLIO

Overseas Mutual Fund

Cash Equivalents

CBLO 13.09 1.45%


Total Net Assets as on 31-Jul-2018 904.15 100.00%

HSBC GIF Glob Emerg Mkts Eq S1 Dis 878.72 97.19%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An open ended fund of fund scheme investing in HSBC Global Investment Funds - Global Emerging Markets Equity Fund.

Investment Objective: The primary investment objective of the Scheme is to provide long term capital appreciation by investing predominantly in units/shares

of HSBC Global Investment Funds - Global Emerging Markets Equity Fund. The Scheme may also invest a certain proportion of its corpus in money market

instruments and / or units of liquid mutual fund schemes, in order to meet liquidity requirements from time to time. However, there can be no assurance or

guarantee that the investment objective of the scheme would be achieved.

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load


per unit


@

31.07.18


17-Mar-08

MSCI Emerging Markets Index

885.42

Ranjithgopal K A (Dedicatedfund manager for overseas

investments)

Available

5,000

1,000 p.m.(SIP)

13.16%

`

`

`

14.2741

0.0857

0.3674

(Lumpsum)

Dividend Declaration

Record Date / periodof dividend declared




`

HSBC - Global Emerging Markets Fund - Dividend

HSBC - Global Emerging Markets Fund - Dividend - Direct Plan27-Jun-14 0.50000 0.50000 11.5335

27-Jun-14 0.50000 0.50000 11.6656


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• To create wealth over long term

• Investment predominantly inunits of HSBC Global InvestmentFunds - Global EmergingMarkets Equity Fund





HSBC Asia Pacific (Ex Japan)Dividend Yield Fund


�

�

�



Low riskLOW RISK

(BLUE)



13

FUND DETAILS


Regular 2.27%

Direct Plan 1.57%

(inclusive of underlying scheme's expenses)


Asset Allocation





FUND PORTFOLIO


Cash Equivalents

CBLO 16.07 2.40%



HSBC GIF Asia Pacific Ex Japan Eq HD-S9D 648.64 97.02%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open Ended Fund of Funds Scheme investing in HSBC Global Investments Fund - Asia Pacific Ex Japan Equity High Dividend Fund.

Investment Objective: The primary investment objective of the Scheme is to provide long term capital appreciation by investing predominantly in units of HSBC

Global Investment Funds (HGIF) Asia Pacific Ex Japan Equity High Dividend Fund (HEHDF). The Scheme may also invest a certain proportion of its corpus in

money market instruments and / or units of liquid mutual fund schemes, in order to meet liquidity requirements from time to time. However, there is no assurance

that the investment objective of the Scheme will be achieved.

Date of AllotmentBenchmark


Fund Manager

SIPMinimumApplication Amount

Exit Load

per unit


@

31.07.18

¤

Standard Deviation

Beta (Slope)

Sharpe Ratio**

Statistical Ratios

24-Feb-14MSCI AC Asia Pacific ex Japan

Ranjithgopal K A (for overseasinvestments), Sanjay Shah (for

investments in Indian Market)Available

5,000

1,000 p.m.(SIP)

703.70

`

`

`

(Lumpsum)

11.28%

14.1409

0.0770

0.4750


RiskometerRiskometer

Mod

erately

Mod

erately ModerateModerate

Low

Low

Hig

hH

igh

Low

Low

HighHigh

LOWLOW HIGHHIGH

Moderately

Moderately



• Investment in equity and equityrelated securities of Asia Pacificcountries (excluding Japan)through fund of funds route

HSBC Asia Pacific (Ex Japan)Dividend Yield Fund





)

Effective from March 14, 2018 for prospective investments.@



HSBC Brazil Fund


�

�

�



Low riskLOW RISK

(BLUE)



14

FUND DETAILS


Regular 2.52%

Direct Plan 1.82%


Asset Allocation








)


FUND PORTFOLIO


Cash Equivalents

CBLO 58.12 2.70%



HSBC GIF Brazil Equity S3D 2,052.76 95.38%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open-Ended Fund of Funds Scheme investing in HSBC Global Investments Fund - Brazil Equity Fund.

Investment Objective: The primary investment objective of the Scheme is to provide long term capital appreciation by investing predominantly in units/shares

of HSBC Global Investment Funds (HGIF) Brazil Equity Fund. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other

similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The Scheme may also invest a certain proportion of its corpus in

money market instruments and/or units of liquid mutual fund schemes, in order to meet liquidity requirements from time to time. However, there can be no

assurance or guarantee that the investment objective of the scheme would be achieved.

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.07.18


06-May-11

MSCI Brazil 10/40 Index

7.2862

2,065.25

Ranjithgopal K A (Dedicatedfund manager for overseas

investments)

Available

5,000

1,000 p.m.(SIP)

32.55%

`

`

`

(Lumpsum)

0.0800

0.2640


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Invests in equity and equityrelated securities throughfeeder route in Brazilianmarkets

HSBC Brazil Fund






�

�

�



Low riskLOW RISK

(BLUE)



15

FUND DETAILS


Regular 2.12%

Direct Plan 1.85%

(inclusive of underlying scheme's expenses)

Excludes GST on Investment Management fees of 0.00% of TotalNetAssets and of 0.20% on the underlying scheme's in which thefund of fund invests.

Asset Allocation

Mutual Fund 99.70%




FUND PORTFOLIO

Mutual Fund

Cash Equivalents

CBLO 313.50 1.96%



HSBC Large Cap Equity Fund - Growth Direct 9,627.88 60.33%

HSBC Small Cap Equity Fund - Growth Direct 3,202.76 20.07%

HSBC Short Duration Fund - Growth Direct 1,433.72 8.98%

HSBC Flexi Debt Fund Growth Direct 847.82 5.31%

HSBC Debt Fund Growth Direct 800.20 5.01%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open Ended Fund of Funds Scheme (Overseas/Domestic)

Investment Objective: The objective of the Plan is to provide long term total return primarily by seeking capital appreciation through an active asset allocation

with diversification commensurate with the risk profile of investments by investing in a basket of debt, equity, gold exchange traded funds (ETFs) and other

ETFs, units of offshore mutual funds and money market instruments. However, there can be no assurance or guarantee that the investment objective of the

scheme would be achieved.

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit

Monthly Average AUM

(In Lakhs)

@

31.07.18

¤

Standard Deviation

Beta (Slope)

Sharpe Ratio**

Statistical Ratios

30-Apr-14Composite Index constituting80% of S&P BSE 200 Index

and 20% of CRISILBond Index

15,937.67

Available

5,000

1,000 p.m.(SIP)

Composite

`

`

`

18.0268

0.0800

0.4360

(Lumpsum)

12.05%


Riskometer

M

oderately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• To create wealth over long term

• Investing predominantly in unitsof equity mutual funds as well asin a basket of debt mutual funds,gold & exchange traded funds,offshore mutual funds andmoney market instruments.






)




Ranjithgopal KA (Dedicated Fund Manager forinvestments in foreign securities)Gautam Bhupal (For managing investments in IndianMarket – Equity Portion)Sanjay Shah (For managing investments in IndianMarket – Fixed Income Portion)



�

�

�



Low riskLOW RISK

(BLUE)



16

FUND DETAILS


Regular 2.03%

Direct Plan 1.78%

(inclusive of underlying scheme's expenses)Excludes GST on Investment Management fees of 0.00% of TotalNetAssets and of 0.18% on the underlying scheme's in which thefund of fund invests.

Asset Allocation

Mutual Fund 99.45%




FUND PORTFOLIO

Mutual Fund

Cash Equivalents

CBLO 259.93 0.93%




HSBC Small Cap Equity Fund - Growth Direct 4,468.21 15.96%


HSBC Flexi Debt Fund Growth Direct 3,417.51 12.20%

IDFC Dynamic Bond Fund-Direct PL-Growth 1,036.10 3.70%

HSBC Debt Fund - Growth Direct 830.11 2.96%

IssuerMarket Value

( in Lacs)`

% to NetAssets


Investment Objective: The objective of the fund is to provide long term total return aimed at capital appreciation and providing income through an active asset

allocation with diversification commensurate with the risk profile of investments by investing in a basket of debt, equity, gold ETFs and other ETFs, units of

offshore mutual funds and money market instruments. However, there can be no assurance or guarantee that the investment objective of the scheme would be

achieved.

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit

Monthly Average AUM

(In Lakhs)

@

31.07.18

¤

Standard Deviation

Beta (Slope)

Sharpe Ratio**

Statistical Ratios

30-Apr-14

Aggressive Index (renamed fromexisting CRISIL Balanced Fund

Aggressive Index)

27,432.66

Available

5,000

1,000 p.m.(SIP)

`

`

`

CRISIL Hybrid 35+65 -

(Lumpsum)

11.35%

17.0040

0.0900

0.4170


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• To create wealth and provideincome over the long term

• Investments in a basket of debtmutual funds, equity mutualfunds, gold & exchange tradedfunds, offshore mutual fundsand money market instruments.






)







�

�

�



Low riskLOW RISK

(BLUE)



17

FUND DETAILS


Regular 1.60%

Direct Plan 1.35%

(inclusive of underlying scheme's expenses)Excludes GST on Investment Management fees of 0.04% of TotalNet Assets and of 0.10% on the underlying scheme's in which thefund of fund invests.

Asset Allocation

Mutual Fund 99.71%




FUND PORTFOLIO

Mutual Fund

Cash Equivalents

CBLO 200.90 0.76%




L&T Triple Ace Bond Fund Direct Growth 3,943.00 14.93%

IDFC Dynamic Bond Fund-Direct PL-Growth 3,813.99 14.44%

HSBC Flexi Debt Fund Growth Direct 3,417.39 12.94%


HSBC Debt Fund - Growth Direct 832.85 3.15%

IssuerMarket Value

( in Lacs)`

% to NetAssets


Investment Objective: The objective of the Plan is to provide long term total return aimed at providing income through an active asset allocation with

diversification commensurate with the risk profile of investments by investing in a basket of debt, equity, gold ETFs and other ETFs and money market

instruments. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit


@

31.07.18

¤


Statistical Ratios

30-Apr-14

Composite Index constitutingof 90% into CRISIL Composite

Bond Index and 10% of S&PBSE 200 Index

Available

5,000

1,000 p.m.(SIP)

`

26,649.23

`

`

14.1036

0.0700

0.0950

(Lumpsum)

3.14%

This product is suitable forinvestors who are seeking*:• To create wealth over long term• Investing predominantly in

units of debt mutual funds aswell as in a basket of equitymutual funds, gold & otherexchange traded funds andmoney market instruments.

Investors understand that their principalwill be at Moderate risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately






)





HSBC Global Consumer Opportunities Fund - Benefiting from China’sGrowing Consumption Power

18

FUND DETAILS


Regular 2.33%

Direct Plan 1.63%


Asset Allocation





FUND PORTFOLIO


Cash Equivalents

CBLO 11.00 2.65%



HSBC GIF-China Consumer Opp S5 Cap 402.35 96.85%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open-Ended Fund of Funds Scheme investing in HSBC Global Investments Fund - China Consumer Opportunities Fund.

Investment Objective: The primary investment objective of the scheme is to provide long term capital appreciation by investing predominantly in units of

HSBC Global Investment Funds (HGIF) China Consumer Opportunities Fund (Underlying scheme). The Scheme may, also invest a certain proportion of its

corpus in money market instruments and / or units of liquid mutual fund schemes, in order to meet liquidity requirements from time to time. However, there can be

no assurance or guarantee that the investment objective of the scheme would be achieved.

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit


@

31.07.18

¤

Standard Deviation

Beta (Slope)

Sharpe Ratio**

Statistical Ratios

23-Feb-15

MSCI AC World Index

Ranjithgopal K A (DedicatedFund Manager) & Sanjay Shah

(for investments in IndianMarket)

Available

,000

1,000 p.m.(SIP)

`

`

5

`

418.00

(Lumpsum)

11.03%

13.2164

0.0740

0.3480


Riskometer

M

oderately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• To create wealth over long term• Investment in equity and equity

related securities around theworld focusing on growingconsumer behaviour of Chinathrough feeder route

HSBC Global Consumer Opportunities Fund - Benefiting fromChina’s Growing Consumption Power





)




19








HSBC Brazil Fund

HSBC Asia Pacific (Ex Japan) Dividend Yield Fund

HSBC Managed Solutions

HSBC Global Consumer Opportunities Fund -Benefiting from China’s Growing Consumption Power

Neelotpal Sahai (from 27 May 2013)



Gautam Bhupal (from 11 May 2018)

Aditya Khemani (from 24 February 2009)

For Equity portion: Neelotpal Sahai (from 27 May 2013) &For Debt portion: Sanjay Shah (from 14 August 2009)

Ranjithgopal K A (from 27 February 2017)


For overseas investments: &For investment in Indian markets: Sanjay Shah (from 24 February 2014)


For overseas investment : ,For Investments in Indian Market - Equity Portion :

& For Investments in Indian Market - Debt Portion :Sanjay Shah (30 April 2015)

Gautam Bhupal(from 21 October 2015)


For Overseas Market :For Investments in Indian Market - Debt Portion : Sanjay Shah(from 13 February 2015)


Name of Scheme Fund Manager

Fund Manager’s Experience

Gautam Bhupal

Vice President & Fund Manager Equities

Post Graduate Diploma in Business Management, CA, CS, B.Com (Hons)

Over 14 years of experience in areas of research and Fund Management.

HSBC Asset Management (India) Private Limited

Vice President & Fund Manager, since October 2015 till date.

Fund Manager for PMS Portfolios from July 2008 till June 2015.

UTI Asset Management Company

Equity Research Analyst from May 2004 till June 2008.

Experience:

�

�

Vice President - Investment Management, from June 2015 to October 2015.


20

Neelotpal Sahai

Senior Vice President & Head - Equities

B.Tech, PGDM (IIM Kolkata)

Over 23 years of experience in Research and Fund Management.

HSBC Asset Management (India) Private Ltd

Senior Fund Manager – Equities from April 2013 onwards.

IDFC Asset Management Company Ltd.

Director from February 2006 to April 2013

Motilal Oswal Securities Ltd

Senior Research Analyst from March 2005 to January 2006

Infosys Ltd

Senior Project Manager from June 1999 to March 2005

Vickers Ballas Securities Ltd

Analyst from September 1998 to June 1999

SBC Warburg

Analyst from May 1997 to May 1998

UTI Securities Ltd

Equity Analyst from June 1995 to May 1997

Experience:

�

�

�

�

�

�

�

Aditya Khemani

Vice President & Fund Manager - Equities

B.Com. (Hons.), Post Graduate Diploma in Business Management

Over 13 years experience in research.


Vice President & Fund Manager (Equity), from April 2012 to present,

Assistant Fund Manager, Equities from February 2009 to March 2012;

Associate Vice President - Investment Management from October 2007 to February 2009.

SBI Funds Management India Private Ltd

Senior Manager - Equity Research from March 2007 to September 2007

Prudential ICICI Asset Management Company India Private Ltd

Assistant Manager - Equity Research from December 2005 to February 2007

Morgan Stanley Advantage Services India Private Ltd

Research Associate from May 2005 to November 2005

Experience:

�

�

�

�

Ranjithgopal K A

Vice President - Equities from March 2016 onwards

Associate Vice President - Investment Management (Analyst) from January 2012 to February 2016

Associate Vice President - Institutional Sales from April 2009 to December 2011

Associate Vice President - Sales & Distribution from May 2006 to April 2009

Vice President - Equities

PGDBM, BA - Economics

Over 12 years of experience in Equity Research & Sales


Experience:

�


21

Funds Managed by Neelotpal Sahai.(Total Schemes Managed 4)

Funds Managed by Neelotpal Sahai.(Total Schemes Managed 4)

HSBC Large Cap Equity Fund#

Date of Inception : 10 Dec 02

Scheme Name & Benchmarks 1 Year 3 Years 5 Years SinceInception

HSBC Large Cap Equity Fund - Growth

(Scheme Benchmark)

(Standard Benchmark)

10,000, if invested in HLEF, would have become

10,000, if invested in , would have become


`

`

`

Nifty 50

S&P BSE Sensex

Nifty 50

S&P BSE Sensex

8.51% 11.26 16.63 21.56

14.20 11.42 16.03 17.98

16.97 11.61 15.80 18.05

10,851 13,777 21,589 212,284

11,420 13,836 21,039 132,970

11,697 13,907 20,831 134,210

% % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `



Date of Inception : 24 Feb 04

Date of Inception : 24 Sep 07

Scheme Name & Benchmarks


SinceInception

SinceInception

HSBC Multi Cap Equity Fund - Growth

S&P BSE 200 (Scheme Benchmark)


10,000, if invested in HMEF, would have become

10,000, if invested in S&P BSE 200, would have become


Nifty 50

Nifty 50

`

`

`

HSBC Dynamic Asset Allocation Fund - Growth



10,000, if invested in HDAF, would have become



Nifty 50

Nifty 50

`

`

`

6.34 10.57 21.30 16.44

12.51 12.15 18.05 15.21

14.20 11.42 16.03 15.02

10,634 13,522 26,274 90,072

11,251 14,110 22,937 77,265

11,420 13,836 21,039 75,446

% % % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `

9.08 10.03 14.09 5.99

12.51 12.15 18.05 9.69

14.20 11.42 16.03 9.27

10,908 13,324 19,337 18,807

11,251 14,110 22,937 27,297

11,420 13,836 21,039 26,183

% % % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `

Past performance may or may not be sustained in the future. Refer note below.

The said Fund is managed by Neelotpal Sahai Effective (27 May 2013)



The said Fund is managed by Sanjay Shah Effective (14 August 2009)


Funds Managed by Neelotpal Sahai (for Equity portion)Sanjay Shah (for Fixed Income portion)

(Total Schemes Managed 4)Funds Managed by (Total Schemes Managed 10)


Returns are of growth option. The returns for the respective periods are provided as on Last business day of July 2018 for the respective Schemes. Returns 1 year and Aboveare Compounded Annualised. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specifictime period, invested at the start of the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-vis returns indicated above. Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.

`

Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.


1 Year 3 Years 5 Years


Performance of the respective benchmark is calculated as per the Total Return Index (TRI)

TRI data of Standard Benchmark is not available since inception of the scheme. Standard Benchmark performance is calculated using Composite CAGR of S&P BSE

Sensex PRI values from date 10-Dec-2002 to date 30-May-2007 and TRI values since date 31-May-2007.

#Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid effective fromMar 14, 2018.

TRI data of Standard Benchmark is not available since inception of the scheme. Standard Benchmark performance is calculated using Composite CAGR of S&P BSE 200

PRI values from date 24-Feb-2004 to date 28-Jun-2007 and TRI values since date 29-Jun-2007.

22

HSBC Brazil Fund Date of Inception : 06 May 11

Scheme Name & Benchmarks SinceInception

HSBC Brazil Fund - Growth

MSCI Brazil 10/40 Index (Scheme Benchmark)


10,000, if invested in HBF, would have become

10,000, if invested in MSCI Brazil 10/40 Index, would have become


Nifty 50

Nifty 50

`

`

`

2.79 9.24 -3.40 -4.28

4.93 13.42 2.69 0.86

14.20 11.42 16.03 11.82

10,279 13,039 8,411 7,285

10,493 14,595 11,420 10,636

11,420 13,836 21,039 22,456

% % % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `

Past performance may or may not be sustained in the future. Refer note below

Returns are of growth option. The returns for the respective periods are provided as on Last business day of 2018 for the respective Schemes.. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific

time period, invested at the start of the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-vis returns indicated above. Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

July Returns 1 year and Aboveare Compounded Annualised `



Funds Managed by - Ranjithgopal K A (Total Schemes Managed 7)

Funds Managed by - Ranjithgopal K A (Total Schemes Managed 7)

HSBC Global Emerging Markets Fund#

Date of Inception : 17 Mar 08


HSBC Global Emerging Markets Fund - Growth

MSCI Emerging Market Index (Scheme Benchmark)


10,000, if invested in HGEF, would have become

10,000, if invested in MSCI Emerging Market Index, would have become


Nifty 50

Nifty 50

`

`

`

8.13 10.16 6.48 3.49

11.32 11.42 7.73 7.99

14.20 11.42 16.03 10.65

10,813 13,372 13,690 14,276

11,132 13,836 14,513 22,211

11,420 13,836 21,039 28,585

% % % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `



The said Fund is managed by Ranjithgopal K A Effective (27 February 2017)


HSBC Asia Pacific (Ex Japan) DividendYield Fund


Scheme Name & Benchmarks 1 Year 3 Years SinceInception

HSBC Asia Pacific (Ex Japan) Dividend Yield Fund - Growth

MSCI AC Asia Pacific ex Japan (Scheme Benchmark)


10,000, if invested in HAPDF, would have become

10,000, if invested in MSCI AC Asia Pacific ex Japan, would have become


Nifty 50

Nifty 50

`

`

`

11.17 10.93 8.13

12.34 11.83 9.37

14.20 11.42 16.19

11,117 13,654 14,141

11,234 13,990 14,874

11,420 13,836 19,448

% % %

% % %

% % %

` ` `

` ` `

` ` `


Funds Managed by Sanjay Shah (for Fixed Income portion) (Total Schemes Managed 10)

Funds Managed by Ranjithgopal K A (For overseas investment) (Total Schemes Managed 7)


The said Fund is managed by Sanjay Shah Effective (24 February 2014)

The said Fund has been in existence for more than 3 years but less than 5 years


#Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid effective from

Mar 14, 2018.

23

HSBC Global Consumer Opportunities Fund -Benefiting from China's Growing Consumption Power


Scheme Name & BenchmarksScheme Name & BenchmarksScheme Name & Benchmarks 1 Year 3 Years SinceInception

HSBC Global Consumer Opportunities Fund - Benefiting from China'sGrowing Consumption Power - Growth

MSCI AC World Index (Scheme Benchmark)

Nifty 50 (Standard Benchmark)

10,000, if invested in HGCOF, would have become

10,000, if invested in MSCI AC World Index, would have become

10,000, if invested in Nifty 50, would have become

`

`

`

Past performance may or may not be sustained in the future. Refer note below.Past performance may or may not be sustained in the future. Refer note below.Past performance may or may not be sustained in the future. Refer note below.Past performance may or may not be sustained in the future. Refer note below.

Please Note : NAmeans not available.Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid scheme including change in the

benchmark to S&P BSE 250 Small Cap Index effective from Mar 14, 2018. The launch date of the S&P BSE 250 Small Cap Index (INR) is November 30, 2017 whereas the inception date of the scheme isMay 19, 2005. All information presented prior to the index launch date is back-tested which is available from Mar 31, 2008. The corresponding benchmark returns since inception of the scheme is notavailable.All index data is available on the website ofAsia Index Pvt. Ltd. a joint venture between BSE Ltd. and S&P Dow Jones Indices LLC. (source: http://www.asiaindex.co.in).

*


Funds Managed by - Gautam Bhupal (Total Schemes Managed 4)

Funds Managed by - Neelotpal Sahai (Total Schemes Managed 4)

HSBC Small Cap Equity Fund# Date of Inception : 19 May 05


HSBC Small Cap Equity Fund - Growth

S&P BSE 250 Small Cap Index (Scheme Benchmark)


10,000, if invested in HSEF, would have become



Nifty 50

Nifty 50

`

`

`

*


0.08 8.82 30.40 13.61

-2.17 10.38 21.43 NA

14.20 11.42 16.03 15.56

10,008 12,889 37,731 53,945

9,783 13,452 26,416 NA

11,420 13,836 21,039 67,542

% % % %

% % %

% % % %

` ` ` `

` ` `

` ` ` `


Returns are of growth option. The returns for the respective periods are provided as on Last business day of 2018 for the respective Schemes. .Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific time period, invested at the start of the period. The returnsprovided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-vis returns indicated above. Different plans shall have a different expense structure.The performance details provided herein are of other than Direct plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

July Returns 1 year andAbove are CompoundedAnnualised`


HSBC Infrastructure Equity Fund# Date of Inception : 23 Feb 06


HSBC Infrastructure Equity Fund - Growth

S&P BSE India Infrastructure (Scheme Benchmark)


10,000, if invested in HIEF, would have become

10,000, if invested in S&P BSE India Infrastructure, would have become


$

`

`

`

-11.36 0.66 20.88 5.87

-6.67 7.35 13.57 NA

14.20 11.42 16.03 12.49

8,864 10,199 25,822 20,333

9,333 12,373 18,900 NA

11,420 13,836 21,039 43,243

% % % %

% % %

% % % %

` ` ` `

` ` `

` ` ` `



Funds Managed by Sanjay Shah (for Fixed Income portion) (Total Schemes Managed 10)

Funds Managed by Ranjithgopal K A (For overseas investment) (Total Schemes Managed 7)


The said Fund is managed by Sanjay Shah Effective (13 February 2015)

The said Fund is managed by Gautam Bhupal Effective (11 May 2018)



Please Note : NAmeans not available.$The launch date of the S&P BSE India Infrastructure Index (INR) is May 19, 2014 whereas the inception date of the scheme is Feb 23, 2006. Information presented for 5 year return is back-tested which isavailable from Mar 31, 2008. The corresponding benchmark returns since inception of the scheme is not available. All index data is available on the website ofAsia Index Pvt. Ltd. a joint venture betweenBSE Ltd. and S&P Dow Jones Indices LLC. (source: ).http://www.asiaindex.co.in


17.47 9.44 8.46

18.37 11.42 10.77

14.20 11.42 9.35

11,747 13,111 13,218

11,837 13,836 14,211

11,420 13,836 13,595

% % %

% % %

% % %

` ` `

` ` `

` ` `

#Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid effective from Mar 14, 2018.

HSBC Managed Solutions - Growth# Date of Inception : 30 Apr 14


HSBC Managed Solutions - Growth - Growth

Customised Benchmark Index Fund (Scheme Benchmark)*

(Standard Benchmark)Nifty 50

Crisil 10 Year Gilt Index (Standard Benchmark)

10,000, if invested in HMSG, would have become

10,000, if invested in Customised Benchmark Index, would have become


10,000, if invested in Crisil 10 Year Gilt Index, would have become

`

`

`

`

5.77 10.72 14.85

9.78 10.26 14.08

-2.90 6.01 7.70

10,577 13,577 18,024

10,978 13,408 17,515

11,420 13,836 17,950

% % %

% % %

14.20% 11.42% 14.74%

% % %

9,710 11,915 13,711

` ` `

` ` `

` ` `

` ` `


*Composite index of S&P BSE 200 (80%) and Crisil Composite Bond Fund Index (20%).


24




HSBC Tax Saver Equity Fund Date of Inception : 05 Jan 07


HSBC Tax Saver Equity Fund - Growth



10,000, if invested in HTSF, would have become



Nifty 50

Nifty 50

`

`

`

3.48 10.45 20.22 12.11

12.51 12.15 18.05 11.18

14.20 11.42 16.03 10.81

10,348 13,478 25,125 37,554

11,251 14,110 22,937 34,102

11,420 13,836 21,039 32,811

% % % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `

Funds Managed by - Aditya Khemani (Total Schemes Managed 2)



The said Fund is managed by Gautam Bhupal Effective (21 October 2015)

The said Fund is managed by Sanjay Shah Effective (April 2014)

The said Fund is managed by Aditya Khemani Effective (24 February 2009)


Funds Managed by Gautam Bhupal (for Equity portion)Sanjay Shah (for Fixed Income portion)

(For overseas investment)

(Total Schemes Managed 4)Funds Managed by (Total Schemes Managed 10)Funds Managed by Ranjithgopal K A (Total Schemes Managed 7)




PRI values from date 05-Jan-2007 to date 28-Jun-2007 and TRI values since date 29-Jun-2007.

#Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid

effective from Mar 14, 2018.

25

*Composite index of Crisil Composite Bond Fund Index (90%) and S&P BSE 200 (10%).


Returns are of growth option. The returns for the respective periods are provided as on Last business day of 2018 for the respective Schemes.. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific time

period, invested at the start of the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-visreturns indicated above. Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

July Returns 1 year and Above areCompounded Annualised `


HSBC Managed Solutions - Moderate - Growth# Date of Inception : 30 Apr 14


HSBC Managed Solutions - Moderate - Growth

Aggressive Index (Scheme Benchmark)



10,000, if invested in HMSM, would have become

10,000,if investedin ,wouldhavebecome



`

`

`

`

CRISIL Hybrid 35+65 -

CRISILHybrid35+65-AggressiveIndex

5.14 10.29 13.29

8.71 10.74 14.11

14.20 11.42 14.74

-2.90 6.01 7.70

10,514 13,419 17,005

10,871 13,584 17,535

11,420 13,836 17,950

9,710 11,915 13,711

% % %

% % %

% % %

% % %

` ` `

` ` `

` ` `

` ` `








HSBC Managed Solutions - Conservative - Growth# Date of Inception : 30 Apr 14


HSBC Managed Solutions - Conservative - Growth

Customised Benchmark Index Fund (Scheme Benchmark)*



10,000, if invested in HMSC, would have become

10,000, if invested in Customised Benchmark Index, would have become



`

`

`

`

2.64 6.49 8.42

2.86 7.98 9.73

14.20 11.42 14.74

-2.90 6.01 7.70

10,264 12,078 14,105

10,286 12,593 14,845

11,420 13,836 17,950

9,710 11,915 13,711

% % %

% % %

% % %

% % %

` ` `

` ` `

` ` `

` ` `










#Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid effective from

Mar 14, 2018.

26

HSBC Large Cap Equity Fund#



Date of Inception : 10 Dec 02


Date of Inception : 24 Sep 07




1Year

1Year

1Year

3Years

3Years

3Years

5Years

5Years

5Years

SinceInception

SinceInception

SinceInception

Total amount invested ( )

Market Value as on , 2018 ( )

Scheme Returns (%)

Scheme Benchmark ( )

Scheme Benchmark Returns (%)

Standard Benchmark ( )

Standard Benchmark Returns (%)

`

`

`

`

-

-

-

-

July 31

Nifty 50

Nifty 50

S&P BSE Sensex

S&P BSE Sensex


Scheme Returns (%)





`

`

`

Market Value as on

S&P BSE 200 -

S&P BSE 200 -

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018


Scheme Returns (%)





`

`

`

Market Value as on

S&P BSE 200 -

S&P BSE 200 -

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018

120000 360000 600000 1880000

127843 455669 857613 6901105

12.39 15.94 14.27 15.08

132451 468248 867864 6674137

19.86 17.87 14.76 14.71

134928 475481 873021 6929191

23.94 18.96 15.00 15.12

120000 360000 600000 1740000

123941 444610 881403 5355389

6.17 14.22 15.39 14.27

129696 466153 890362 5239352

15.37 17.55 15.80 14.01

132451 468248 867864 5033933

19.86 17.87 14.76 13.53

120000 360000 600000 1310000

128881 446090 824458 2260304

14.06 14.45 12.68 9.60

129696 466153 890362 2853312

15.37 17.55 15.80 13.56

132451 468248 867864 2706118

19.86 17.87 14.76 12.67

The Fund offers flexible and convenient Systematic Investment Plan (SIP) facility. To illustrate the advantages of SIP investments, this is how your investments would havegrown if you had invested say 10,000 systematically on the first Business Day of every month over a period of time in the Growth Option of Respective Scheme.

The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments givenan initial and final value and a series of cash inflows and outflows with correct allowance for the time impact of the transactions. Data as on .

`

`

July 31, 2018


Returns shown for Regular Plan - Growth Option








TRI data of Standard Benchmark is not available since inception of the scheme. Standard Benchmark performance is calculated using Composite CAGR of S&P BSE Sensex PRI

values from date 10-Dec-2002 to date 30-May-2007 and TRI values since date 31-May-2007.


PRI values from date 24-Feb-2004 to date 28-Jun-2007 and TRI values since date 29-Jun-2007.




27

HSBC Brazil Fund Date of Inception : 06 May 11

Scheme Name & Benchmarks 1Year

3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

MSCI Brazil 10/40 Index -

MSCI Brazil 10/40 Index -

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018

120000 360000 600000 860000

114923 423848 641762 843458

-7.79 10.92 2.66 -0.54

115056 448534 719614 1002004

-7.59 14.84 7.21 4.21

132393 468811 869064 1456720

19.80 17.96 14.82 14.44

HSBC Asia Pacific (Ex Japan) Dividend Yield Fund Date of Inception : 24 Feb 14


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

MSCI AC Asia Pacific ex Japan -

MSCI AC Asia Pacific ex Japan -

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018

120000 360000 NA 530000

125578 448193 NA 678359

8.78 14.79 NA 11.17

124731 453829 NA 689239

7.43 15.67 NA 11.90

132383 468397 NA 726355

19.79 17.90 NA 14.33

HSBC Global Emerging Markets Fund#

Date of Inception : 17 Mar 08


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

MSCI Emerging Market Index -

MSCI Emerging Market Index -

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018

120000 360000 600000 1240000

120993 437713 736624 1742082

1.55 13.15 8.15 6.40

122786 449882 769629 2070309

4.36 15.06 9.91 9.57

132383 468026 867699 2539232

19.79 17.85 14.76 13.27


The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments givenan initial and final value and a series of cash inflows and outflows with correct allowance for the time impact of the transactions. .

`

`

Data as on July 31, 2018












28

HSBC Tax Saver Equity Fund Date of Inception : 05 Jan 07


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

S&P BSE 200 -

S&P BSE 200 -

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018

120000 360000 600000 1390000

120612 437371 869498 3329862

0.95 13.08 14.83 14.24

129696 466153 890362 3126834

15.37 17.55 15.80 13.25

132451 468248 867864 2964463

19.86 17.87 14.76 12.40

HSBC Infrastructure Equity Fund^#



3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

S&P BSE -

S&PBSE -

Nifty 50 -

Nifty 50 -

$

July 31 ( )`, 2018

India Infrastructure Index

India Infrastructure Index

120000 360000 600000 1490000

102674 375480 764891 2316448

-25.69 2.76 9.65 6.84

108914 403082 749366 NA

-16.72 7.49 8.84 NA

132451 468248 867864 3352175

19.86 17.87 14.76 21.63



`

`








Please Note : “NAmeans not available.$The launch date of the S&P BSE India Infrastructure Index (INR) is May 19, 2014 whereas the inception date of the scheme is Feb 23, 2006. Information presented for 5 yearreturn is back-tested which is available from Mar 31, 2008. The corresponding benchmark returns since inception of the scheme is not available. All index data is available onthe website ofAsia Index Pvt. Ltd. a joint venture between BSE Ltd. and S&P Dow Jones Indices LLC. (source: ).http://www.asiaindex.co.in



PRI values from date 05-Jan-2007 to date 28-Jun-2007 and TRI values since date 29-Jun-2007.




29

HSBC Managed Solutions - Growth#

Date of Inception : 30 Apr 14


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

Customised Benchmark Index* -

Customised Benchmark Index -

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018

120000 360000 NA 510000

123160 436672 NA 659669

4.94 12.97 NA 12.12

127993 451233 NA 675480

12.69 15.15 NA 13.18

132408 468116 NA 688872

19.83 17.85 NA 14.21

HSBC Managed Solutions - Moderate - Growth#



3Years

5Years

SinceInception


Scheme Returns (%)


SchemeBenchmarkReturns(%)



`

`

`

Market Value as on

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018

(CRISIL Hybrid 35+65 - Aggressive Index)

(CRISILHybrid35+65-AggressiveIndex)

120000 360000 NA 510000

122899 427201 NA 645399

4.53 11.46 NA 11.08

126816 439590 NA 660244

10.76 13.43 NA 12.17

132408 468116 NA 688872

19.83 17.85 NA 14.21

HSBC Small Cap Equity Fund# Date of Inception : 19 May 05


3Years

5Years

SinceInception


Scheme Returns (%)

Scheme Benchmark( )




`

`

`

Market Value as on

-

-

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018



*

120000 360000 600000 1590000

110626 416462 937909 4019867

-14.20 9.71 17.92 13.08

122807 446086 904261 NA

-9.44 12.19 15.48 NA

132451 468248 867864 3903658

19.86 17.87 14.76 12.68



`

`





*Composite index of S&P BSE200 (80%) and Crisil Composite Bond Fund Index (20%).





Please Note : “NAmeans not available.* Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid scheme includingchange in the benchmark to S&P BSE 250 Small Cap Index effective from Mar 14, 2018. The launch date of the S&P BSE 250 Small Cap Index (INR) is November 30, 2017 whereas theinception date of the scheme is May 19, 2005. All information presented prior to the index launch date is back-tested which is available from Mar 31, 2008. The corresponding benchmarkreturns since inception of the scheme is not available. All index data is available on the website of Asia Index Pvt. Ltd. a joint venture between BSE Ltd. and S&P Dow Jones Indices LLC.(source: http://www.asiaindex.co.in).





30

HSBC Managed Solutions - Conservative - Growth#



3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

Customised Benchmark Index* -

Customised Benchmark Index -

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018

120000 360000 NA 510000

122320 393269 NA 586206

3.62 5.84 NA 6.50

122257 403315 NA 601848

3.55 7.39 NA 7.70

132408 468116 NA 688872

19.83 17.85 NA 14.21

HSBC Global Consumer Opportunities Fund -Benefiting from China's Growing Consumption Power



3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

MSCI AC World Index -

MSCI AC World Index -

Nifty 50 -

Nifty 50 -

July 31 ( )`, 2018

120000 360000 NA 410000

129904 455495 NA 520799

15.73 15.93 NA 14.13

131618 454864 NA 524981

18.52 15.83 NA 14.62

132425 468498 NA 537965

19.85 17.92 NA 16.12



`

`





*Composite index of Crisil Composite Bond Fund Index (90%) and S&P BSE200 (10%).

Returns are of growth option. The returns for the respective periods are provided as on Last business day of July 2018 for the respective Schemes.. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific


Returns 1 year and Aboveare Compounded Annualised `




HSBC Regular Savings FundAn open ended Hybrid Scheme investing predominantly in debt instruments.

Investment Objective: Seeks to generate reasonable returns through investments in Debt and Money Market Instruments. The secondary objective of thescheme is to invest in equity and equity related instruments to seek capital appreciation. However, there can be no assurance or guarantee that the investmentobjective of the scheme would be achieved.

31

FUND DETAILS


NAV (Growth)

(as on 31 )

Average Maturity ofPortfolio

Modified Duration

of Portfolio

Fund Managers

SIPMinimum

Application AmountGrowthQuarterly DividendMonthly Dividend

Exit Load

per unit


.07.18

Yield To Maturity*

@

Month End Total Expenses ratios (Annualized)Regular 2.18%

Direct Plan 1.68%Excludes GST on Investment Management fees of 0.22% ofTotal NetAssets.

Asset Allocation

Corporate/ PSU Debt 37.86%

Government Securities 34.11%

Equity 25.10%


Cash Equivalents 1.08%



*Based on investedAmount

FUND PORTFOLIO

Corporate/ PSU Debt

Equity

Government Securities

Cash Equivalents

CBLO 195.11 1.08%



Corporate Bonds / Debentures

Zero Coupon Bonds

Equities

Power Grid Corporation of India 1,510.18 8.36% CRISIL AAA

India Infradebt 999.73 5.53% CRISIL AAA

Reliance Industries 972.21 5.38% CRISIL AAA

National Highways Authority of India 971.77 5.38% CRISIL AAA

HDFC 598.14 3.31% CRISIL AAA

Tata Sons 490.09 2.71% CRISIL AAA


Can Fin Homes 224.47 1.24% CARE AAA

Power Grid Corporation of India 202.01 1.12% CRISIL AAA

NABARD 150.27 0.83% CRISIL AAA

NTPC 139.78 0.77% CRISIL AAA

Capital First 99.59 0.55% CRISIL AA+

Shriram Transport Finance Company 48.97 0.27% CRISIL AA+

Rural Electrification Corporation 29.54 0.16% CRISIL AAA

IIFL Home Finance 81.35 0.45% [ICRA]AA(SO)

India Infoline Finance 81.02 0.45% [ICRA]AA(SO)

ICICI Bank 456.16 2.53%

IndusInd Bank 409.01 2.26%

HDFC Bank 377.05 2.09%


ITC 228.48 1.26%

Nilkamal 196.23 1.09%

OCL India 153.62 0.85%

The Federal Bank 149.52 0.83%

Infosys 140.21 0.78%

Crompton Greaves Cons Electrical 138.57 0.77%

Sun Pharmaceutical Ind 138.15 0.76%


Vedanta 133.32 0.74%

GlaxoSmithKline Consumer Healthcare 129.70 0.72%

NCL Industries 125.55 0.69%

MRF 123.21 0.68%


Heritage Foods Ltd 117.29 0.65%


Finolex Cables 111.51 0.62%

Galaxy Surfactants 108.54 0.60%

JM Financial 107.20 0.59%

The Indian Hotels Company 106.40 0.59%

Indo Count Industries 83.18 0.46%

Exide Industries 75.53 0.42%

Balrampur Chini Mills 73.30 0.41%

Torrent Pharmaceuticals 71.84 0.40%

InterGlobe Aviation 69.73 0.39%

Cholamandalam Investment & Fin Co 64.38 0.36%

Blue Star 41.26 0.23%

8.24% GOVT OF INDIA RED 15-02-2027 1,768.90 9.79% SOVEREIGN


6.84% GOVT OF INDIA RED 19-12-2022 916.70 5.07% SOVEREIGN

8.39% RAJASTHAN SDL RED 15-03-2022 749.53 4.15% SOVEREIGN





7.65% KARNATAKA SDL 29-11-2027 1.52 0.01% SOVEREIGN

IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Regular Savings Fund - Monthly Dividend

HSBC - Monthly Dividend - Direct Plan

HSBC - Quarterly Dividend

HSBC - Quarterly Dividend - Direct Plan

25-May-18 0.07203 0.06670 12.504925-Jun-18 0.07203 0.06670 12.4113

25-May-18 0.07203 0.06670 15.673525-Jun-18 0.07203 0.06670 15.5882

26-Dec-17 0.21668 0.20075 14.415726-Mar-18 0.18057 0.16729 13.7746

25-Jul-18 0.07203 0.06670 12.3998

25-Jul-18 0.07203 0.06670 15.6060

26-Mar-18 0.18057 0.16729 12.8150

25-Jun-18 0.18008 0.16676 13.5637

Regular Savings Fund



25-Sep-17 0.21668 0.20075 13.492126-Dec-17 0.21668 0.20075 13.4488

Rating24-Feb-04

CRISIL Hybrid 85+15 -Conservative Index (renamed

from existing MIP BlendedFund Index)

4.93 years

3.67 years

Aditya Khemani(for Equity portion) Sanjay

Shah (for Debt portion)

Available

5,0005,000

1,000 p.m.(SIP)

`

`

35.2061

8.32%

18,470.13

5,000 (Lumpsum)

(Lumpsum)(Lumpsum)

`

`

`

Rating Profile

AAAand equivalents 36.14%

Sovereign 34.11%

Equity 25.10%


AA+/AA-/AAand equivalents 1.72%

Reverse Repos/ CBLOs 1.08%




Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Investment in fixed income(debt and money marketinstruments) as well as equityand equity related securities

• Capital appreciation overmedium to long term

* Investors should consult their financial advisers if in doubtabout whether the product is suitable for them.



HSBC Debt FundAn open ended Medium to Long Term Debt Scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 years to 7 years.

Investment Objective: To provide reasonable income through a diversified portfolio of fixed income securities such that the Macaulayduration of the portfolio is between 4 years to 7 years. However, there can be no guarantee that the investment objective of the scheme wouldbe achieved.

32

FUND DETAILS

Date of Allotment

Benchmark



Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Exit Load

per unit31.07.18


Month End Total Expenses ratios (Annualized)Regular 1.83%

Direct Plan 1.08%Excludes GST on Investment Management fees of 0.20% ofTotal NetAssets.

Asset Allocation






FUND PORTFOLIO

Corporate/ PSU Debt


HDFC 299.07 7.17% CRISIL AAA


Reliance Industries 291.66 6.99% CRISIL AAA

National Highways Authority of India 194.35 4.66% CRISIL AAA











Cash Equivalents

CBLO 241.58 5.79%



IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating10-Dec-02

CRISIL Composite BondFund Index

27.6836

6.55 years

4.68 years

8.05%

4,162.71

Sanjay Shah

Available

5,000

1,000 p.m.(SIP)

Nil

`

`

`

(Lumpsum)

Rating Profile

Sovereign 71.25%









`

HSBC Debt Fund - Regular Option - Quarterly Dividend

HSBC Debt Fund - Institutional Option - Quarterly Dividend

27-Jun-17 0.14445 0.13383 11.2759

25-Sep-17 0.14445 0.13383 11.1079

26-Dec-17 0.14445 0.13383 10.7434

12-Jun-09 0.11387 0.10598 11.0294

11-Sep-09 0.11387 0.10598 10.9960

11-Dec-09 0.11387 0.10598 11.0973

Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: 10 per unit.`Investors understand that their principal

will be at Moderate risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• Regular Income over long term

• Investment in diversif iedportfolio of fixed incomesecurit ies such that theMacaulay^ duration of theportfolio is between 4 years to 7years

HSBC Debt Fund


^ The Macaulay duration is the weighted average term to maturityof the cash flows from a bond. The weight of each cash flow isdetermined by dividing the present value of the cash flow by theprice.


HSBC Short Duration FundAn open ended Short Term Debt Scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year to 3 years.

Investment Objective: To provide reasonable income through a diversified portfolio of fixed income securities such that the Macaulayduration of the portfolio is between 1 year to 3 years. However, there can be no assurance or guarantee that the investment objective of thescheme would be achieved.

33

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on )


Modified Duration

of Portfolio

Yield To Maturity*

Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit

31.07.18



Regular 1.25%

Direct Plan 0.30%

Excludes on Investment Management fees of 0.05% ofTotal NetAssets.

GST

Asset Allocation




Money Market Instruments 2.00%



FUND PORTFOLIO

Money Market Instruments

Corporate/ PSU Debt


Cash Equivalents

CBLO 284.17 0.23%

Net Current Assets 4,120.79 3.36%

Total Net Assets as on 31-Jul-2018 1,23,506.11 100.00%

Commercial Paper


Zero Coupon Bonds

NABARD 1,500.00 1.21% [ICRA]A1+

Edelweiss Commodities Services 969.53 0.79% CRISIL A1+

Nabha Power 7,508.27 6.08% [ICRA]AAA

Rural Electrification Corporation 7,502.13 6.07% CARE AAA

Volkswagen Finance Pvt 4,986.73 4.04% Fitch AAA

Dewan Housing Finance Corporation 4,985.41 4.04% CARE AAA

HDFC 4,984.54 4.04% CRISIL AAA

Dalmia Cements (Bharat) 4,967.78 4.02% [ICRA]AA

Vedanta 4,927.99 3.99% CRISIL AA

Aditya Birla Finance 4,924.02 3.99% [ICRA]AA+

Energy Efficiency Services 4,918.99 3.98% [ICRA]AA

NABARD 4,871.50 3.94% CRISIL AAA

CLP Wind Farm India Pvt 3,999.43 3.24% Fitch AA

Small Industries Development Bk of India 3,896.54 3.15% CARE AAA

Reliance Industries 2,687.76 2.18% CRISIL AAA

Tata Capital Financial Services 2,508.60 2.03% [ICRA]AA+

LIC Housing Finance 2,492.26 2.02% CRISIL AAA

Small Industries Development Bk of India 2,490.62 2.02% CARE AAA


Nabha Power 2,487.10 2.01% [ICRA]AAA(SO)

Shriram Transport Finance Company 2,485.65 2.01% CRISIL AA+

Orix Leasing & Financial Services 2,482.92 2.01% Fitch AAA

Housing & Urban Development Corp 2,477.01 2.01% CARE AAA


Talwandi Sabo Power 2,459.32 1.99% CRISIL AA

Indian Railway Finance Corporation 2,457.43 1.99% CRISIL AAA

Power Finance Corporation 2,430.70 1.97% CRISIL AAA


Power Finance Corporation 2,420.51 1.96% CRISIL AAA

India Infradebt 1,499.59 1.21% CRISIL AAA


Power Grid Corporation of India 1,006.78 0.82% CRISIL AAA

United Spirits 484.49 0.39% CRISIL AA+

Small Industries Development Bk of India 240.34 0.19% CARE AAA

Power Finance Corporation 235.86 0.19% CARE AAA

Housing & Urban Development Corp 223.83 0.18% CARE AAA

Indian Railway Finance Corporation 97.90 0.08% CRISIL AAA

Tube Investments of India 77.59 0.06% CRISIL AA

Rural Electrification Corporation 49.10 0.04% CARE AAA

JM Financial Products 5,514.97 4.47% CRISIL AA


8.54% RAJASTHAN SDL RED 04-07-2028 1,362.50 1.10% SOVEREIGN



IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating10-Dec-02

CRISIL Short Term BondFund Index

28.7609

1.96 years

1.59 years

8.64%

1,24,118.66

Sanjay Shah &

Kapil Punjabi

Available

5,000

1,000 p.m.(SIP)

Nil

`

`

`

(Lumpsum)

Rating Profile



Sovereign 4.83%








`

HSBC Short Duration Fund - Regular Option - Monthly Dividend

HSBC - Monthly Dividend - Direct Plan

HSBC - Institutional Option - Monthly Dividend

HSBC - Institutional Plus Option - Monthly Dividend

25-Apr-18 0.01738 0.01609 11.152825-Jun-18 0.05170 0.04787 11.1932

25-May-15 0.05330 0.04938 12.007825-Jun-15 0.06385 0.05915 11.9934

26-Dec-17 0.14445 0.13383 10.296026-Mar-18 0.07223 0.06692 10.2380

25-Jul-18 0.04911 0.04548 11.1896

27-Feb-17 0.04637 0.04296 11.2799

27-Jul-15 0.05814 0.05387 12.0045

30-Dec-11 0.08478 0.07266 10.120027-Jan-12 0.05533 0.04742 10.086624-Feb-12 0.05663 0.04854 10.0881

Short Duration Fund

Short Duration Fund

Short Duration Fund

HSBC Short Duration Fund - Quarterly Dividend

HSBC Short Duration Fund - Quarterly Dividend- Direct Plan

26-Dec-16 0.07035 0.06518 11.333525-Jan-17 0.05706 0.05286 11.3524

25-Sep-17 0.14445 0.13383 10.3838

25-Jun-18 0.07203 0.06670 10.2430


Investors understand that their principalwill be at Moderately Low risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• Regular Income over Mediumterm

• Investment in diversified portfolioof fixed income securities suchthat the Macaulay^ duration ofthe portfolio is between 1 year to3years





HSBC Cash FundAn open ended Liquid Scheme

Investment Objective: Aims to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through aportfolio of money market and debt securities. However, there can be no assurance or guarantee that the investment objective of the schemewould be achieved.

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on )


Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Sub Options

Exit Load

per unit

31.07.18


Asset Allocation


Treasury Bill 9.33%

Fixed Deposit 1.95%





FUND PORTFOLIO

Money Market InstrumentsCertificate of Deposit

Commercial Paper


Fixed Deposit

Bank of Baroda 19,430.05 3.04% Fitch A1+Vijaya Bank 17,412.43 2.72% CARE A1+Axis Bank 14,903.99 2.33% [ICRA]A1+IDFC Bank 14,420.23 2.26% [ICRA]A1+Equitas Small Finance Bank 9,987.57 1.56% CRISIL A1+Vijaya Bank 9,972.78 1.56% CARE A1+Vijaya Bank 9,961.88 1.56% CARE A1+Karnataka Bank 9,950.39 1.56% [ICRA]A1+The South Indian Bank 9,950.04 1.56% CARE A1+Union Bank of India 9,491.14 1.48% [ICRA]A1+Axis Bank 7,445.42 1.16% [ICRA]A1+IDFC Bank 2,500.00 0.39% [ICRA]A1+Yes Bank 2,491.16 0.39% [ICRA]A1+IDFC Bank 2,487.80 0.39% [ICRA]A1+AU Small Finance Bank 2,476.13 0.39% Fitch A1+Axis Bank 499.14 0.08% [ICRA]A1+

Arvind 14,913.73 2.33% CARE A1+KEC International 14,904.82 2.33% Fitch A1+JM Financial Products 12,481.21 1.95% [ICRA]A1+HDFC 12,440.37 1.95% CRISIL A1+STCI Finance 12,415.72 1.94% CRISIL A1+Future Retail 9,995.41 1.56% CARE A1+SREI Equipment Finance 9,987.92 1.56% [ICRA]A1+Edelweiss Commodities Services 9,984.96 1.56% CRISIL A1+L & T Finance 9,982.91 1.56% CARE A1+IL & FS Financial Services 9,968.36 1.56% CARE A1+L & T Finance 9,946.67 1.56% CARE A1+National Fertilizers 9,943.88 1.56% [ICRA]A1+IIFL Home Finance 9,941.16 1.55% [ICRA]A1+Arvind 9,927.15 1.55% CARE A1+Future Retail 9,926.86 1.55% CARE A1+Capital First 9,913.22 1.55% CARE A1+Capital First Home Finance 9,910.93 1.55% CARE A1+Indiabulls Housing Finance 9,897.84 1.55% CRISIL A1+Edelweiss Commodities Services 9,895.46 1.55% CRISIL A1+SRF 9,893.42 1.55% CRISIL A1+Mahindra Rural Housing Finance 9,893.01 1.55% Fitch A1+Indiabulls Housing Finance 9,496.33 1.49% CRISIL A1+IL & FS Financial Services 7,938.14 1.24% CARE A1+Edelweiss Commodities Services 7,478.74 1.17% CRISIL A1+SREI Equipment Finance 7,476.89 1.17% [ICRA]A1+Aadhar Housing Finance 7,475.51 1.17% CRISIL A1+India Infoline Finance 7,474.96 1.17% [ICRA]A1+SREI Equipment Finance 7,460.34 1.17% [ICRA]A1+Magma Fincorp 7,454.23 1.17% CRISIL A1+SREI Equipment Finance 5,462.97 0.85% [ICRA]A1+L & T Finance 4,997.80 0.78% CARE A1+Indiabulls Housing Finance 4,994.56 0.78% CRISIL A1+India Infoline Finance 4,993.23 0.78% [ICRA]A1+JK Lakshmi Cement 4,977.89 0.78% CARE A1+IIFL Home Finance 4,973.27 0.78% [ICRA]A1+Edelweiss Commodities Services 4,972.40 0.78% CRISIL A1+Vedanta 4,972.31 0.78% CRISIL A1+Kalpataru Power Transmission 4,972.10 0.78% CARE A1+JM Financial Products 4,968.53 0.78% [ICRA]A1+Ford Credit India Pvt 4,963.41 0.78% CRISIL A1+Indostar Capital Finance 4,962.85 0.78% CRISIL A1+Future Retail 4,961.90 0.78% CARE A1+Sundaram Finance 4,961.63 0.78% [ICRA]A1+Bajaj Electricals 4,959.20 0.78% [ICRA]A1+Bajaj Electricals 4,957.26 0.78% [ICRA]A1+Welspun India 4,956.82 0.78% Fitch A1+JM Financial Capital 4,955.46 0.78% [ICRA]A1+Future Retail 4,936.64 0.77% CARE A1+India Infoline Finance 4,488.86 0.70% [ICRA]A1+ECL Finance 2,994.59 0.47% [ICRA]A1+HDFC 2,497.41 0.39% CRISIL A1+ECL Finance 2,496.58 0.39% [ICRA]A1+JM Financial Capital 2,492.89 0.39% [ICRA]A1+HDFC 2,490.85 0.39% CRISIL A1+Axis Finance 2,487.56 0.39% Fitch A1+HDFC 2,484.47 0.39% CRISIL A1+Bajaj Electricals 2,480.09 0.39% [ICRA]A1+SREI Equipment Finance 2,478.10 0.39% [ICRA]A1+IL & FS Financial Services 2,476.81 0.39% CARE A1+NABARD 500.00 0.08% [ICRA]A1+NABARD 499.40 0.08% Fitch A1+Reliance Jio Infocomm 499.29 0.08% CRISIL A1+Bajaj Finance 498.68 0.08% [ICRA]A1+

Indiabulls Housing Finance 2,502.15 0.39% CARE AAA

RBL Bank 12,500.00 1.95% Fixed Deposit

70 DAYS CASH MAN BILL MAT-21-08-2018 29,896.55 4.68% SOVEREIGN70 DAYS TBILL CMB RED 19-09-2018 29,740.96 4.65% SOVEREIGN

Corporate/ PSU Debt

Fixed Deposit

Treasury Bill

Cash EquivalentsCBLO 5,891.13 0.92%Net Current Assets 306.78 -0.02%Total Net Assets as on 31-Jul-2018 6,39,403.67 100.00%

Issuer Market Value( in Lacs)`

% to NetAssets

Rating04-Dec-02

CRISIL Liquid Fund Index

1768.3292

0.07 years

0.07 years

7.58%

Kapil Punjabi

Available

5,000

1,000 p.m.(SIP)

Growth, Daily Dividend,Reinvestment

Weekly Dividend,Reinvestment,

Monthly Dividend (Payout &Reinvestment)

Nil

`

`

`

6,43,555.24

(Lumpsum)

Rating Profile


Sovereign 9.33%

Fixed Deposit 1.95%








`

HSBC Cash Fund - Institutional Option - Monthly Dividend

HSBC Cash Fund - Monthly Dividend - Direct Plan

HSBC Cash Fund - Institutional Plus Option - Monthly Dividend

25-May-18 4.00052 3.70450 1005.9703

25-Jun-18 4.56886 4.23079 1006.7593

26-Dec-17 3.67905 3.40857 1013.7255

25-Jun-18 4.77826 4.42469 1044.5199

25-Jul-18 4.40821 4.08203 1006.5363

25-Jul-18 4.61067 4.26950 1044.2872

26-Aug-11 0.04886 0.04686 10.1383

29-Sep-11 0.05876 0.05636 10.1509

28-Oct-11 0.05244 0.05030 10.1428

Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: 1,000 per unit.`


Regular 0.14%

Direct Plan 0.08%

Excludes on Investment Management fees of 0.00% of TotalNetAssets.

GST

34

Investors understand that their principalwill be at low risk

Riskometer

M

oderately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• Overnight Liquidity over short

term• Invests in Money Market

Instruments

HSBC Cash Fund



HSBC Low Duration FundAn open ended Low Duration Debt Scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months to 12 months.

Investment Objective: To seek to provide liquidity and reasonable returns by investing primarily in a mix of debt and money market instruments such that theMacaulay duration of the portfolio is between 6 months to 12 months. However there can be no assurance or guarantee that the investment objective of thescheme would be achieved.

35

FUND DETAILS


NAV (Growth)(as on )Average Maturity ofPortfolioModified Durationof PortfolioYield To Maturity*

Fund Managers

SIPMinimumApplication Amount

Sub Options

Exit Load

per unit31.07.18


Asset Allocation






** CRISIL Low Duration Debt Index.

(previously named as CRISIL Ultra Short Term Debt Index)(previous benchmark CRISIL Liquid Fund Index - 90%, CRISILShort Term Bond Fund Index - 10%.)

* Based on invested Amount

FUND PORTFOLIO

Money Market Instruments

Certificate of Deposit

Commercial Paper


AU Small Finance Bank 2,476.13 4.85% Fitch A1+

AU Small Finance Bank 2,386.19 4.67% CRISIL A1+

Arvind 4,959.65 9.71% CARE A1+

Welspun India 4,941.66 9.67% Fitch A1+

Edelweiss Commodities Services 4,740.95 9.28% CRISIL A1+

Bajaj Electricals 2,471.36 4.84% [ICRA]A1+

Dewan Housing Finance Corporation 2,469.60 4.83% CRISIL A1+

Aadhar Housing Finance 2,468.02 4.83% CRISIL A1+

Edelweiss Commodities Services 1,454.30 2.85% CRISIL A1+

NABARD 1,000.00 1.96% [ICRA]A1+

Indiabulls Housing Finance 499.81 0.98% CRISIL A1+

NABARD 496.74 0.97% [ICRA]A1+

Shriram Transport Finance Company 4,920.67 9.63% CRISIL AA+



Aditya Birla Finance 2,462.01 4.82% [ICRA]AA+

Energy Efficiency Services 2,459.49 4.81% [ICRA]AA


Small Industries Development Bk of India 974.13 1.91% CARE AAA

Corporate/ PSU Debt

Cash Equivalents

CBLO 2,200.56 4.31%



IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating17-Oct-06

**

15.5454

0.73 years

0.64 years

8.17%

53,131.17

Kapil Punjabi

Available

5,000

1,000 p.m.(SIP)

Growth, Daily Dividend,Reinvestment

Weekly Dividend,Reinvestment

Monthly Dividend (Payout &Reinvestment)

Nil

CRISIL Low Duration

Debt Index

`

`

`

(Lumpsum)

Rating Profile











`

HSBC Low Duration Fund - Institutional Option - Monthly Dividend

HSBC Low Duration Fund - Monthly Dividend - Direct Plan

HSBC Low Duration Fund - Institutional Plus Option - Monthly Dividend

25-May-18 0.01318 0.01220 10.1451

25-Jun-18 0.05176 0.04793 10.1987

25-May-18 0.01835 0.01699 10.3552

25-Jun-18 0.05788 0.05360 10.4101

25-Jul-18 0.04283 0.03966 10.1863

28-Jan-11 0.04829 0.04501 10.3821

25-Feb-11 0.04125 0.03845 10.3741

25-Mar-11 0.05214 0.04859 10.3865

25-Jul-18 0.04861 0.04502 10.3972



Regular 1.00%

Direct Plan 0.20%


Investors understand that their principalwill be at Moderately Low risk

Riskometer

Modera

tely Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• Liquidity over short term• Investment in a mix of debt and

money market instruments suchthat the Macaulay^ duration ofthe portfolio is between 6months to 12 months.




HSBC Flexi Debt FundAn open ended Dynamic Debt Scheme investing across duration.

Investment Objective: Seeks to deliver returns in the form of interest income and capital gains, along with high liquidity, commensurate withthe current view on the markets and the interest rate cycle, through active investment in debt and money market instruments. However therecan be no assurance or guarantee that the investment objective of the scheme would be achieved.

36

FUND DETAILS

Date of Allotment

Benchmark



Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Exit Load

per unit31.07.18


Asset Allocation






* Based on invested Amount

FUND PORTFOLIO

Corporate/ PSU Debt


Tata Sons 1,666.31 9.76% CRISIL AAA

HDFC 1,595.05 9.35% CRISIL AAA

National Highways Authority of India 1,263.30 7.40% CRISIL AAA

Reliance Industries 1,166.65 6.84% CRISIL AAA












Cash Equivalents

CBLO 1,614.29 9.46%



IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating05-Oct-07

CRISIL Composite BondFund Index

22.7385

5.43 years

3.90 years

8.08%

17,508.31

Sanjay Shah

Available

5,000 (Lumpsum)

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile

Sovereign 55.67%










`

HSBC Flexi Debt Fund - Regular Option - Monthly Dividend

HSBC Flexi Debt Fund - Institutional Option - Monthly Dividend

HSBC Flexi Debt Fund - Monthly Dividend - Direct Plan

HSBC Flexi Debt Fund - Regular Option - Quarterly Dividend

HSBC Flexi Debt Fund - Institutional Option - Quarterly Dividend

HSBC Flexi Debt Fund - Quarterly Dividend - Direct Plan

HSBC Flexi Debt Fund - Regular Option - Half Yearly Dividend

HSBC Flexi Debt Fund - Institutional Option - Half-yearly Dividend

HSBC Flexi Debt Fund - Half-yearly Dividend - Direct Plan

26-Apr-13 0.05836 0.04973 10.4949

31-May-13 0.11214 0.10740 10.6718

28-Jun-13 0.03263 0.03125 10.4175

25-Nov-16 0.32168 0.29803 11.0304

27-Jun-17 0.01324 0.01227 10.6036

25-Jun-15 0.18057 0.16729 11.8869

28-Sep-15 0.18057 0.16729 11.9644

27-Mar-17 0.18057 0.16729 11.8718

27-Jun-17 0.14445 0.13383 11.9288

15-Mar-13 0.35236 0.30201 11.6629

27-Mar-17 0.36113 0.33458 12.2875

25-Sep-17 0.36113 0.33458 12.1555

26-Mar-18 0.28891 0.26767 11.4423

27-Mar-17 0.36113 0.33458 11.7165

25-Sep-17 0.36113 0.33458 11.6099

25-Jul-17 0.04532 0.04199 10.6481

25-Aug-15 0.06760 0.06263 10.8080

28-Sep-15 0.09852 0.09127 10.8504

26-Oct-15 0.11441 0.10600 10.8719

25-Mar-15 0.18147 0.16829 12.2052

26-Dec-17 0.18057 0.16729 11.8705

26-Mar-18 0.18057 0.16729 11.5809

26-Mar-18 0.28891 0.26767 10.9480

25-Sep-17 0.18057 0.16729 11.7832

25-Jun-18 0.18008 0.16676 11.3776

14-Sep-12 0.35236 0.30201 11.4315



Regular 1.60%Direct Plan 0.85%

Excludes on Investment Management fees of 0.13% of TotalNetAssets.

GST

Investors understand that their principalwill be at Moderate risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• Regular Income over longterm

• Investment in Debt / MoneyMarket Instruments



37


HSBC Debt Fund


HSBC Cash Fund



For Debt portion: Sanjay Shah (from 14 August 2009) & ForEquity portion: Aditya Khemani (from 24 February 2009)

Sanjay Shah (from 09 January 2009)

Sanjay Shah (from 09 January 2009) & Kapil Punjabi (from 23 December 2016)

Kapil Punjabi (from 14 March 2014)

Kapil Punjabi (from 18 October 2014)

Sanjay Shah (from 09 January 2009)

Name of Scheme Fund Manager

Fund Manager’s Experience

Sanjay ShahSenior Vice President Head - Fixed IncomeB. Com, A.C.A., Post Graduate Diploma in Management

Experience:

Over 19 years of experience in research and fund management


Senior Vice President & Head – Fixed Income from November 2012 to present,

Vice President & Fund Manager, Fixed Income since December 2008 till November 2012.

FIL Fund Management Private Ltd

Credit Analyst from September 2008 to December 2008

Lehman Brothers Structured Financial Services Private Ltd

Vice President, Convertible Products from September 2006 to September 2008

Rabo India Finance Private Ltd

Senior Manager – Credit Risk from July 2004 to September 2006

ICICI Bank Ltd

Manager, Credit Risk from January 2003 to June 2004

SBI Funds Management Private Ltd

Chief Manager, Debt Funds from June 1999 to January 2003

�

�

�

�

�

�

Kapil Punjabi

Vice President & Fund Manager - Fixed Income

B.M.S, M.M.S (Mumbai University)

Experience:

Over 12 years of experience in research and Fund Management

HSBC Asset Management (India) Private Ltd.

Vice President & Fund Manager - Fixed Income from March 04, 2014 onwards.

Taurus Asset Management Company Limited

Fund Manager Fixed Income from June 07, 2012 to February 27, 2014.

Edelweiss Asset Management Limited

Fund Manager Fixed Income from December 05, 2009 to June 06, 2012.

Edelweiss Securities Limited

Manager - Investments from October 2007 to November 2009

Trans Market Group Research (India) Private Limited

Research Analyst and Proprietary Trader from May 2006 to October 2007.

�

�

�

�

�

Funds Managed by Sanjay Shah (for Debt portion) (Total Schemes Managed 10)Aditya Khemani (for Equity portion) (Total Schemes Managed 2)Funds Managed by

HSBC Regular Savings Fund# Date of Inception : 24 Feb 04


HSBC Regular Savings Fund - Growth

(CRISIL Hybrid 85+15 - Conservative Index) (Scheme Benchmark)

Crisil 1 Year T-Bill Index (Standard Benchmark)


10,000, if invested in HRSF, would have become

10,000, if invested in , wouldhave become

10,000, if invested in Crisil 1 Year T-Bill Index, would have become


`

`

`

`

CRISIL Hybrid 85+15 - Conservative Index

0.50% 6.10 9.62 9.11

3.16 8.33 10.29 8.14

5.69 6.57 7.36 5.96

-2.90 6.01 6.49 5.24

10,050 11,946 15,833 35,221

10,316 12,716 16,323 30,960

10,569 12,105 14,266 23,072

9,710 11,914 13,696 20,921

% % %

% % % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `

` ` ` `


Returns are of growth option. The returns for the respective periods are provided as on Last business day of July 2018 for the respective Schemes.. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific

time period, invested at the start of the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-vis returns indicated above. Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.

Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

Returns 1 year and Aboveare Compounded Annualised `

Fund Manager Wise Comparative Performance of Debt Schemes

38


Funds Managed by - Sanjay Shah (Total Schemes Managed 10)

Funds Managed by - Sanjay Shah (Total Schemes Managed 10)

The said Fund is managed by Effective (14 August 2009)Sanjay Shah

The said Fund is managed by Effective (09 January 2009)Sanjay Shah

The said Fund is managed by Effective (09 January 2009)Sanjay Shah

The said Fund is managed by Effective (24 February 2009)Aditya Khemani


HSBC Debt Fund# Date of Inception : 10 Dec 02


HSBC Debt Fund - Growth

Crisil Composite Bond Fund Index (Scheme Benchmark)


10,000, if invested in HDF, would have become

10,000, if invested in Crisil Composite Bond Fund Index, would have become


`

`

`

-1.31 5.05 6.51 6.72

1.48 7.52 8.81 6.61

-2.90 6.01 6.49 5.76

9,869 11,594 13,710 27,671

10,148 12,432 15,256 27,228

9,710 11,915 13,697 24,022

% % % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `


HSBC Flexi Debt Fund Date of Inception: 05 Oct 07


HSBC Flexi Debt Fund - Growth

Crisil Composite Bond Fund Index (Scheme Benchmark)


10,000, if invested in HFDF, would have become

10,000, if invested in Crisil Composite Bond Fund Index, would have become


`

`

`

-0.85 5.48 6.96 7.89

1.48 7.52 8.81 7.51

-2.90 6.01 6.49 6.37

9,915 11,737 14,002 22,742

10,148 12,432 15,256 21,890

9,710 11,915 13,697 19,506

% % % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `






Fund Manager Wise Comparative Performance of Debt Schemes

39


Funds Managed by Sanjay Shah (Total Schemes Managed 10)Funds Managed by Kapil Punjabi (Total Schemes Managed 3)

HSBC Short Duration Fund# Date of Inception : 10 Dec 02


HSBC Short Duration Fund - Growth

Crisil Short Term Bond Fund Index (Scheme Benchmark)


10,000, if invested in HSDF, would have become

10,000, if invested in Crisil Short Term Bond Fund Index, would have become


`

`

`

4.18 6.68 7.84 6.98

4.69 7.46 8.54 7.06

5.69 6.57 7.36 5.91

10,418 12,143 14,588 28,745

10,469 12,412 15,068 29,083

10,569 12,105 14,266 24,561

% % % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `


The returns for the respective periods are provided as on . Returns 1 year and Above are Compounded Annualised.Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific time period, invested at the startof the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-vis returns indicated above.Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

Last business day of July 2018 for the respective Schemes`

* Benchmark of the scheme is changed to CRISILUltra Short Term Debt Index effective 14 March 2018, which is now renamed to Crisil Low Duration Debt Index.

HSBC Cash Fund@ Date of Inception: 04 Dec 02

Scheme Name & Benchmarks 1 Year 3 Years 5 Years SinceInception

HSBC Cash Fund - Growth

Crisil Liquid Fund Index (SchemeBenchmark)

Crisil 91 Day T-Bill Index (StandardBenchmark)

`

`

`

10,000, if invested in HCF, would havebecome

10,000, if invested in Crisil Liquid FundIndex, would have become

10,000, if invested in Crisil 91 Day T-BillIndex, would have become

HSBC Low Duration Fund#$ Date of Inception :17 Oct 06


HSBC Low Duration Fund - Growth

CRISIL Low Duration Debt Index (Scheme Benchmark)*


10,000, if invested in HLDF, would have become



`

`

`

CRISIL Low Duration Debt Index


Last 7 Daysas on 31July 2018



7.29 7.25 7.34 7.01 7.25 8.05 8.23

6.65 6.22 7.03 7.04 7.22 8.11 8.13

6.70 6.01 6.38 6.47 6.77 7.71 7.71

10,014 10,030 10,060 10,701 12,339 14,730 17,687

10,013 10,026 10,058 10,704 12,329 14,771 17,563

10,013 10,025 10,052 10,647 12,174 14,500 7.082

% % % % % % %

% % % % % % %

% % % % % % %

1

` ` ` ` ` ` `

` ` ` ` ` ` `

` ` ` ` ` ` `


Funds Managed by - Kapil Punjabi (Total Schemes Managed 3)

Funds Managed by - Kapil Punjabi (Total Schemes Managed 3)


The said Fund is managed by Effective (09 January 2009)Sanjay ShahThe said Fund is managed by Effective (23 December 2016)Kapil Punjabi

The said Fund is managed by Effective (18 October 2014)Kapil Punjabi

The said Fund is managed by Effective (14 March 2014)Kapil Punjabi

5.83 6.90 7.89 7.86

6.56 7.80 8.76 8.58

5.69 6.57 7.36 7.02

10,583 12,218 14,622 15,549

10,656 12,530 15,221 16,168

10,569 12,105 14,266 14,856

% % % %

% % % %

% % % %

` ` ` `

` ` ` `

` ` ` `


#Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaideffective from Mar 14, 2018.

@Pursuant to SEBI circular dated Sept 13, 2012, certain Plans / Options within the schemes have been discontinued to comply with a single plan structure. Since there was no

continuous NAV history available for the surviving Plan prior to 19 May 2011, returns since the said date have been considered for calculating performance. The inception dateof HSBC Cash Fund however is 4 December 2002.

$Pursuant to SEBI circular dated Sept. 13, 2012, certain Plans / Options within the schemes have been discontinued to comply with a single plan structure.Since there was nocontinuous NAV history available for the surviving Plan prior to 1 October 2012, returns since the said date have been considered for calculating performance. The inceptiondate of HSBC Ultra Short Term Bond Fund however is 17 October 2006.

Fund Manager

ApplicationAmount for Fresh Subscription

MinimumAdditionalAmount

Yield to Maturity

SIP

NAV

Benchmark

Entry Load

Exit Load

Modified Duration

Standard Deviation

Sharpe Ratio

Beta

AUM

Holdings

Nature of Scheme

Rating Profile

An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He isusually part of a larger team of fund managers and research analysts.

This is the minimum investment amount for a new investor in a mutual fund scheme,

This is the minimum investment amount for an existing investor in a mutual fund scheme.

The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTMfactors in the bond's current market price, par value, coupon interest rate and time to maturity.

SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bankdeposit. For instance, an investor may opt for an SIP that invests 500 every 15 of the month in an equity fund for a period of three years.

The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. TheNAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund.

Agroup of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance ofmutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec.

Amutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at thetime an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, ifthe NAV is 100 and the entry load is 1%, the investor will enter the fund at 101.

Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time ofredemption. For instance, if the NAV is Rs 100 and the exit load is 1%, the redemption price would be 99 per unit.

Modified duration is the price sensitivity and the percentage change in price for a unit change in yield.

Standard deviation is a statistical measure of the range of an investment's performance. When a mutual fund has a high standard deviation,its means its range of performance is wide, implying greater volatility.

The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated usingstandard deviation and excess return to determine reward per unit of risk.

Beta is a measure of an investment's volatility vis-a-vis the market. Beta of less than 1 means that the security will be less volatile than themarket.Abeta of greater than 1 implies that the security's price will be more volatile than the market.

AUM or assets under management refers to the recent I updated cumulative market value of investments managed by a mutual fund or anyinvestment firm.

The holdings or the portfolio is a mutual fund's latest or updated reported statement of investments/securities. These are usually displayed interms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being investedby the fund manager.

The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aimsat generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capitalpreservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories.

Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in variousinvestments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds.

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Note: SEBI, vide circular dated June 30, 2009 has abolished entry loan and mandated that the upfront commission to distributors will be paid by the investor directly to thedistributor, based on his assessment of various factors including the services rendered by the distributor.

Section II - How to read Factsheet

40

All returns have been sourced from MutualFundsIndia Explorer software unless otherwise stated. With regard to equity

schemes (including the equity component of MIPs), Fund performance is calculated on a total return basis (i.e. it includes

dividends re-invested) while the benchmark is calculated on a price return basis (i.e. it does not consider dividends re-

invested).

This document has been prepared by HSBCAsset Management (India) Private Ltd (HSBC) for information purposes only and

should not be construed as an offer or solicitation of an offer for purchase of any of the funds of HSBC Mutual Fund. All

information contained in this document (including that sourced from third parties), is obtained from sources HSBC, the third

party believes to be reliable but which it has not independently verified and HSBC, the third party makes no guarantee,

representation or warranty and accepts no responsibility or liability as to the accuracy or completeness of such information.

The information and opinions contained within the document are based upon publicly available information and rates of

taxation applicable at the time of publication, which are subject to change from time to time. Expressions of opinion are those of

HSBC only and are subject to change without notice. It does not have regard to specific investment objectives, financial

situation and the particular needs of any specific person who may receive this document. Investors should seek financial

advice regarding the appropriateness of investing in any securities or investment strategies that may have been discussed or

recommended in this report and should understand that the views regarding future prospects may or may not be realized.

Neither this document nor the units of HSBC Mutual Fund have been registered in any jurisdiction. The distribution of this

document in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come into possession of

this document are required to inform themselves about, and to observe, any such restrictions. Mutual fund investments are

subject to market risks. Please read the Scheme Information Document carefully before investing.

Investors should not invest in the Scheme solely based on the information provided in this document and should read the

Combined Scheme Information Document and, Statement of Additional Information of the Fund for details. This document

does not constitute an offering document.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means,

electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of HSBC Asset

Management (India) Private Ltd.

1800-200-2434 OR +91 44 39923900 to connect to our customer care centre.

022-49146254

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

HSBCAsset Management (India) Private Limited,

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factsheet – july 2018...rebound in mid and smallcap performance...

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